New ways to spend, save, and invest with Cleo

Most financial products are built around one area of your money. You use a payment provider to make everyday purchases, a savings account to fund your future, an investing app to manage your portfolio. Each might be useful on its own, but they can’t see how your individual decisions connect to the rest of your financial life.

At Cleo, we’re building a new kind of financial platform. Cleo starts with an understanding of how users earn and spend, then applies that context across a growing range of financial products. Today’s launch enables us to support people through even more stages of their lives, from managing day-to-day cash flow to building stability to pursuing long-term financial goals.

This fall, Cleo is launching products that change how users pay, save, and invest. We’re announcing three major updates:

• Cleo Pay Later¹ reimagines pay-in-four around the paycheck, giving eligible users access to a single-use virtual card for eligible purchases up to $500² with a repayment schedule designed to sync with payday.

• The new Cleo Savings⁴ features faster transfers, smarter automation, streamlined account opening, and personalized goal tracking—now available to more users, without a paid subscription.

• Cleo Invest⁵ brings wealth building into Cleo for the first time, offering a straightforward path into expert-built, diversified portfolios and a clear view of how investing fits into a user’s overall financial picture.

Alongside these products, we’re advancing the AI financial assistant at the heart of Cleo. These improvements help Cleo identify more of the financial changes that matter, share better-timed and more personalized insights with users, and ask the right questions when transaction data doesn’t tell the full story.

This launch significantly expands what Cleo can do to create an experience that becomes better the more that users interact with Cleo, even when their circumstances and ambitions shift. Your money changes; your financial tools should be able to change with it.

Pay Later

Typical buy now, pay later (BNPL) plans are structured around the purchase date. The first payment is taken at checkout, with the remaining three following at fixed intervals. Cleo Pay Later³ bases repayment dates on something more meaningful: when a user gets paid.

With Cleo Pay Later, eligible users can:

• Create a single-use virtual card with a limit of up to $500.

• Split a purchase into four fixed payments¹ over 6 weeks, with the complete schedule and cost visible up front.

• Use a repayment schedule designed to align with their paydays.

• Pay a one-time transaction fee, with no interest.

By applying Cleo’s understanding of users’ pay cycles to the product itself, we can make repayments more predictable and better aligned with cash flow. It’s just one example of how Cleo’s financial intelligence shapes both the guidance users receive and how we structure the products themselves.

Cleo Pay Later also expands the range of financial needs Cleo can serve. Cash advances provide flexibility when users need access to money between paydays, while Pay Later supports larger planned purchases for consumers who use installment products to manage cash flow. Together, they mean that Cleo can support a broader user base across more financial moments.

Cleo Pay Later is now rolling out to eligible existing users in the United States and will be available in the United Kingdom in early 2027.

Savings

Pay Later gives users more flexibility in how they pay today. Cleo Savings is designed to help them build stability for tomorrow.

A savings account gives people a place to set money aside, but building a consistent habit is the hard part. Users still need to decide how much to save, when to move money, and how to adapt as their income and priorities change.

Cleo can take a more personalized approach because she already understands how a user earns and spends. With this launch, we’re making Cleo Savings even easier to access and use:

• Cleo Savings is now available without a paid subscription.

• A streamlined onboarding experience helps users open and fund an account in one flow.

• Faster deposits and withdrawals are designed to make it easier for users to move money when they need to.

• Users can set a savings goal just by chatting with Cleo, then track their progress towards achieving it.

• Cleo can connect savings goals and automatic saving tools⁶ with the financial context she already has, helping users build saving habits that fit their lives.

These changes make Savings the cornerstone of a broader financial experience that connects income and everyday spending with longer-term goals, bridging short-term money management and long-term wealth building. And, as users establish stronger financial foundations, Cleo can support a natural progression from saving to investing.

Invest

For many first-time investors, getting started means navigating risk profiles, asset allocation, and unfamiliar terminology and market jargon. Even if someone feels ready, the learning curve can make it difficult and overwhelming to take the first step.

Cleo Invest is designed for people who want to start investing without having to become experts first. During onboarding, users answer a few questions about their goals, time horizon, and investment style. Through Cleo’s partner Atomic Invest, LLC, users are matched with one of three expert-built managed portfolios that most closely matches their needs.

With Cleo Invest, users can:

• Invest through a diversified portfolio of stock and bond ETFs, managed by Atomic Invest, LLC.

• Have their portfolio rebalanced automatically to maintain its target allocation.

• Fund their account from a linked bank.

• Ask Cleo about their holdings and performance in natural language via chat.

Cleo Invest brings investing into the same financial context as users’ income, spending, and savings. Rather than managing a portfolio in isolation, users can see how it fits into the rest of their financial lives and ask Cleo questions in the language they’d normally use.

Cleo Invest is Cleo’s first move into investing and represents a significant expansion of our platform. It creates an opportunity to reach consumers earlier in their wealth-building journey, support them as their financial needs evolve, and develop a longer-term relationship that spans everyday money management, saving, and investing.

Cleo Invest is available in the United States.

A more proactive, more personal financial assistant

Pay Later, Savings, and Invest expand what users can do with Cleo. The Financial Assistant is the intelligence layer that makes those experiences more interconnected and personalized over time.

Cleo already analyzes users’ spending and saving behavior to help them understand their money. The next step is to recognize when something meaningful has changed and determine whether to explain it, suggest an action, or ask for more context.

This fall, we’re advancing that work in four areas:

• Identifying important moments. We’re improving how Cleo recognizes changes in a user’s financial activity, such as an emerging spending pattern or a change in expected cash flow, and determines whether the moment calls for an explanation or action.

• Sharing timely, personalized insights. We’re training Cleo to turn selected insights into generative notifications tailored to a user’s circumstances and financial profile, helping them stay informed without having to open the app first.

• Asking better questions. Transaction data shows what happened, but it doesn’t always explain why. Cleo can directly ask users for context when important information is missing, then use the answer to improve her understanding.

• Evaluating quality more systematically. We’ve built stronger methods to assess whether Cleo’s financial insights are clear, useful, grounded in a user’s data, and connected to an appropriate next step. This more robust evaluation system lets us track how and why our AI is improving over time.

This is the next stage of Cleo’s growth: expanding beyond individual financial moments to support users as their needs and goals change over a lifetime. By growing with our users, we can reach a broader audience, enter new product categories, and better help people change their relationship with money.

¹ Cleo Pay Later loans are originated by WebBank and subject to credit approval. For example, for a $250.00 Pay Later Loan, you would make one $70.00 payment due at purchase, which includes the $7.50 Finance Charge (Transaction Fee). Assuming the second installment payment of $62.50 is due 18 days after purchase, you would make that payment, followed by two additional payments of $62.50 due every two weeks. The Total of Payments would be $257.50 at an Annual Percentage Rate (APR) of 47.0%. Actual terms, fees, and payment dates are provided after final loan amount determination. Late fees may apply. Certain merchant, product, goods, and service restrictions apply. See the Cleo Pay Later Loan Agreement and FAQs for complete terms and details.

² Pay Later is subject to eligibility, identity verification, and an ability-to-pay assessment. The amount shown before you complete onboarding is an estimated "up to" spending power based on your eligibility, not a guaranteed or final amount. After these checks, your actual spending power may be lower than the amount shown. The average spending power for approved users between June 2026 to August 2026 was $250. Spending power varies and amounts are subject to change.

³ Cleo Pay Later Virtual Cards are issued by WebBank pursuant to a license VISA U.S.A. Inc. See User Agreement for details. Cleo provides access to financing in the form of installment loans. Cleo is not a bank. 

⁴ Cleo is a financial technology company and is not an FDIC-insured bank. Banking services provided by Thread Bank, Member FDIC.

⁵ Cleo has engaged Atomic Invest LLC (“Atomic”), an SEC-registered investment adviser, to bring you the opportunity to open an investment advisory account with Atomic. Companies which are engaged by Atomic receive compensation of 0% to 1.15% of assets under management annualized, payable monthly, for each referred client who opens an Atomic account and may receive a percentage of margin and free cash interest earned by clients, which creates a conflict of interest. See the Atomic Invest Promoter Disclosure Statement.

Brokerage services for Atomic are provided by Atomic Brokerage LLC, a registered broker-dealer and member of FINRA/SIPC and an affiliate of Atomic, which creates a conflict of interest. For more details about Atomic Invest, please see the Form CRS, Form ADV Part 2A, and Privacy Policy. For more details about Atomic Brokerage, please see the Form CRS, General Disclosures and fee schedule. Check the background of Atomic Brokerage on FINRA’s BrokerCheck.

Neither Atomic Invest nor Atomic Brokerage, nor any of their affiliates is a bank. Investments in securities: Not FDIC Insured, Not Bank Guaranteed, May Lose Value. Investing involves risk, including the possible loss of principal. Before investing, consider your investment objectives and the fees and expenses charged. Advisory services through Atomic are not to be construed as tax advice or financial planning and do not take into consideration investments that clients may hold outside of Atomic.

⁶ Actual savings may vary. See FAQs for details.