Quick Answer
Cleo is a conversational AI budgeting app that connects to your bank accounts and helps you track spending, set budgets, and save money through a chat interface. Free to use with a paid tier for cash advances and credit building.
What It Does
Cleo analyzes connected bank and card transactions to categorize spending, set weekly or monthly budgets, track progress against savings goals, alert users to unusual spending, and provide a conversational AI interface for asking questions about finances. It also offers Cleo Plus for credit building and cash advances.
What It Cannot Do
Cleo cannot execute transactions, move money, or invest on your behalf. It does not provide regulated financial advice. The free tier has limited features. Cash advances and credit building require a paid subscription. It does not support business accounts.
Who Is It For
Individuals aged 18-35 who want a conversational and engaging approach to budgeting. Particularly suited for first-time budgeters, students, and anyone who finds traditional finance apps too clinical or complex.
About Cleo
Cleo is one of the most widely used AI personal finance assistants with over 7 million users globally. It connects to your bank accounts and credit cards, analyzes your spending patterns, helps you set and track budgets, and roasts or hypes your financial habits in a conversational tone that is deliberately different from traditional finance apps. Cleo uses AI to categorize transactions, identify spending patterns, and surface insights through natural language conversation rather than dashboards and charts. The app is particularly popular with Gen Z and millennials who prefer a chat-first financial experience.
Pricing and Access
Free tier includes budgeting and spending insights. Cleo Plus adds cash advances up to $250 and credit builder card.
Platforms
How AI Works
HybridFounded
2016
Headquarters
London, UK