Artificial intelligence-powered finance chatbot Cleo has picked up $700,000 from angel investors. The London-based company saw participation from a large group of well-known European tech figures including Skype founder Niklas Zennström, Zoople co-founder Alex Chesterman, Wonga co-founder Errol Damelin among others. The startup is an alumnus of the UK's Entrepreneur First and the accelerator's partners Wendy White and Joe White also participated in the round. The investment reportedly closed last year but has not been disclosed until now. Cleo develops an AI-powered financial assistant through which consumers can check their bank account, credit card data as well as track spending, budget and set spending targets.

Insurers need to prepare for the potential disruption and opportunities arising from driverless cars according to Aon Benfield.