Money management app Plum raises $24m from investors and crowdfunding
Money management app Plum has raised $24 million in a Series A funding round. $16 million came from investors with the rest via a crowdfunding campaign with Crowdcube.
Funding for Plum has reached $43 million to date
The funding will go towards growth projects across Europe and upcoming product launches.
Investors in the funding round include DMG Ventures, Ventura Capital, Global Brain, Venture Friends and 500 Startups. The additional $8 million raised through crowdfunding involved 9,712 investors.
In total, funding for Plum has reached $43 million to date, with the fintech’s valuation tripling since its last funding round in July last year.
Plum has recently gained regulatory approval to offer investments in the EU, with plans to expand its customer base with launches in the Netherlands, Portugal, Belgium, Italy, Finland, Austria and Germany in 2022. It says it is on track to reach 2.5 million registered customers across Europe by the end of 2021.
Plum also has plans for a number of new offers to customers, including a US stock investing product from early December. A full roll-out will follow in Q1 2022.
The fintech is also developing a payment card that it says will, through an automated savings service, help customers’ everyday spending and budgeting. Access to EU and UK stocks and crypto assets will follow later in 2022.
Plum was founded in 2016 by Victor Trokoudes (ex-Wise) and Alex Michael (ex-TicTail). It is based in London, with offices in Athens and Nicosia.
