Barney Hussey-Yeo is the outspoken CEO and founder of Cleo, a rapidly expanding UK fintech startup that is leveraging Artificial Intelligence to transform personal finance management. Cleo, known for its conversational approach and emphasis on the Gen Z demographic, has achieved milestones including doubling its annual revenue and reaching profitability. Hussey-Yeo openly shares his unicorn ambitions—aiming for a billion-pound valuation—and has publicly discussed prospects of an IPO.
Hussey-Yeo’s journey began with a computer science degree at Manchester Metropolitan University, followed by a master´s in machine learning at the University of Bristol. He kicked off his career as a data scientist at payday lender Wonga, departing well before its high-profile collapse. A pivotal meeting with Matt Clifford of Entrepreneurs First propelled Hussey-Yeo to start Cleo in 2016. Despite early struggles—including skepticism from close friends and family, and uncertainty over branding—he settled on the name Cleo after drawing inspiration from Cleopatra and began developing tools that would alert users when their funds were running low. This feature, combined with Cleo’s conversational technology, proved immediately popular.
Fundraising milestones for Cleo included a seed round led by LocalGlobe in 2017, a Series A led by Balderton Capital in 2018, a Series B from EQT Ventures in 2020, and a Series C backed by Sofina in 2022. Cleo currently employs about 400 staff worldwide and claims to have doubled subscriber numbers annually since 2021. Recognizing the competitive landscape in the UK, Hussey-Yeo made a strategic shift to focus on the US market. He has voiced strong opinions on the challenges posed by UK taxation and late-stage capital markets, arguing that these factors drive founders and new tech companies to prioritise the US market and avoid listings on the London Stock Exchange. He has also called on the UK government to prioritise the nation as the top destination for scaling an Artificial Intelligence business.
In the latest phase of Cleo’s journey, the company has launched Cleo 3.0, its biggest technological upgrade in a decade, offering enhanced human-like interactions and deeper insights into users’ financial lives. With this innovation and sustained growth, Cleo edges closer to Hussey-Yeo’s unicorn dream and remains a strong IPO candidate for the near future.
