The Challenge
Cleo is a fintech company helping users improve their financial health through AI-powered tools, smart budgeting, and accessible financial services.
As the company scaled across the US and UK, its finance team needed a better way to monitor liquidity across multiple bank accounts and payment systems. With a lending program and rapidly changing cash requirements, having an accurate and timely view of available cash became critical for day-to-day operations.
The treasury problem:
- Cash data spread across HSBC, SVB, JP Morgan, Xero, and internal dashboards
- Different formats and update timings across systems
- Required stitching together balances manually
- No single source of truth for cash across the business
The visibility problem:
- Repeatedly logging into multiple systems to gather balances
- Preparing and validating reports manually
- Responding to frequent internal requests for cash updates
- Manual workflows for treasury visibility
The quote:
“The main issue was having to find information from several sources and work around it.”
— Jorge, Cleo Accounting team
Alternatives Considered
Before adopting Round, Cleo relied on a combination of tools and evaluated multiple providers.
For Treasury:
- Bank feeds and Xero - Provided partial visibility but delayed updates
- Internal reporting tools - Required manual data extraction and uploads
- Manual workflows - Needed spreadsheets and reconciliation
- Payflows, Modern Treasury, Atlar - Required building and maintaining integrations
- Internal processes - Dependent on manual validation and reporting
The core issue: No solution provided a single, reliable, and unified view of treasury without additional operational overhead.
The Solution
Cleo implemented Round to consolidate treasury visibility and improve access to real-time cash data.
Treasury Module
- Real-time consolidation of balances across accounts
- Single dashboard for all treasury data
- Integration into internal analytics systems
- Automated access to cash position across USD and GBP accounts
“We have all the balances on real time, or close enough to it that it doesn’t affect our decision.”
The Results
Time saved:
- 10+ hours saved per month
- Reduced time spent gathering and validating balances
- Reduced manual reporting workload
Risk eliminated:
- Reduced reliance on manual processes
- Improved accuracy of treasury data
- Increased confidence in liquidity visibility
Key Features They Love
Real-time treasury visibility:
“The most important thing is reliability, that what we see represents our situation.”
Time saved on reporting:
“At the end of the month, I would say this saves me around 10 hours on my work.”
Better access for decision-makers:
“Everybody that needs it within finance now has access to the information.”
Reduced chance of error:
“The fact that it’s not made by hand also reduces the risk of error.”
The Setup
Cleo connected multiple banking and treasury systems into Round, consolidated balances into a single dashboard, and integrated treasury data into internal reporting systems for day-to-day use.
Looking Ahead
Cleo is continuing to expand its use of Round by refining reporting workflows and integrating treasury data more deeply into internal decision-making processes.
About Cleo
Cleo is a fintech company helping users improve their financial health through AI-powered tools, operating across the UK and US and supporting millions of users with accessible financial services.
About Round
Round builds AI-powered financial infrastructure that automates treasury, AP, and payroll operations for European companies and VC funds. Backed by Alstin Capital, Round helps finance teams earn more on idle cash while spending less time on operational busywork.
