Plum, a London, UK-based provider of a smart money app, raised £16M in Series B funding.
The round consisted of:
- £13.4M in funding from institutional investors, including a second tranche of investment from strategic partner Eurobank with participation from new investor iGrow Venture Capital and previous investors Venture Friends and Ventura Capital.
- An additional £2.7m via crowdfunding.
The company intends to use the funds to expand its product offering in the UK following the success of its Cash ISA, aiming to provide a complete app for savers and investors on the market.
Led by CEO and Founder Victor Trokoudes, Plum provides a smart money app, which automates parts of personal finance that people find difficult or don’t have time for, with saving, empowered spending and accessible investing.
The funding follows a period of strong performance for the app with assets under management that have now surpassed £1bn. Revenue for the company has almost doubled year-on-year, on track for profitability in 2025.
Plum has offices in Athens, Greece and Nicosia, Cyprus.
FinSMEs
26/07/2024