Former Monzo Team Raises $13M for AI Chatbot Startup Gradient Labs

Monzo Alumni Launch Smart Financial Assistant

Former Monzo executives have secured $13 million in Series A funding for their new AI startup, Gradient Labs. The round was led by Redpoint Ventures, with support from several prominent investors.

Meet Otto: The AI That Understands Finance

Gradient’s flagship product Otto stands out from typical chatbots by:

✔ Handling complex financial queries
✔ Identifying vulnerable customers
✔ Preventing compliance breaches
✔ Working across multiple fintech platforms

“Otto achieves higher satisfaction scores than human agents,” says co-founder Dimitri Masin.

Proven Results in Real-World Use

Since launching in November, Otto has:

• Achieved 40-60% auto-resolution rates

• Been adopted by 7+ fintech companies

• Reportedly onboarded a major regulated bank

The Brains Behind the Operation

The founding team brings:
✓ Monzo’s data leadership (Masin)
✓ AI research expertise (Antoniou)
✓ ML infrastructure knowledge (Lathia)

Together, they’re bridging fintech and cutting-edge AI.

What’s Next for Gradient Labs?

The funding will fuel:

1. Expanded capabilities (AML, compliance)

2. US market entry

3. More technical support features

AI chatbotAI compliance toolsAI customer servicecustomer support AIfinancial services automationfintech AIGradient LabsMonzo alumni startupOtto chatbotSeries A funding