In a 2023 interview with The Recursive, Victor Troukoudes, founder of Greek fintech Plum, said that his startup recognizes ‘human beings are social animals’, who want to be able to discuss and analyze their finances with an expert in the field.
The AI-driven personal finance management market has witnessed growth, rising from $1.35 billion in 2023 to $1.48 billion in 2024, reflecting a compound annual growth rate (CAGR) of 9.8%. Projections indicate the market will reach $2.16 billion by 2028, maintaining a steady CAGR of 9.9%.
The new deal
Yesterday, Plum announced they secured €34.26 million in venture debt funding from the international financial group BBVA. The company plans to use this new funding to support the implementation of its roadmap, aiming to reach operational profitability by 2025.
According to the company, its assets under management have now surpassed €1.75 billion, reflecting a sevenfold increase over the past three years, while its revenue has grown 4.5 times during the same period.
The plan includes also optimizing the existing user experience, launching new products, and preparing the company for strong growth in Europe.
“We are developing new features to fully leverage the unlimited potential of AI and look forward to delivering these solutions to our customers. With this funding, we can move even more decisively,” shared Troukoudes for startuppper.gr.
Troukoudes also explained that while inflation has now approached 2%, many people still face challenges with the increasing cost of living and require support in maintaining their financial stability. “However, they often don’t know where to start or believe that financial products are too expensive or complicated,” he added.
Plum has already established a strategic partnership with Eurobank and aspires to become the fastest-growing fintech in the Greek market.
Over 2 Million Users Save and Invest Smarter
Trokoudes, a Harvard economics graduate, founded the startup in 2017. The aim was to create a sophisticated app that uses AI to assist users in managing their finances. Plum’s app analyzes users’ bank transactions and provides insights on how much they can save or invest each month.
Fast forward to today, Plum has launched key products across Europe, including ETFs (Exchange-Traded Funds) in the EU and Cash ISAs (Individual Savings Account in the UK is a tax-free savings account where the interest earned on the deposited money is not subject to income tax).
According to their data, Plum has surpassed 2 million users. Throughout the past almost 10 years, the company has accelerated its AI capabilities, from enhanced user engagement and providing personalized financial insights, to customer support and automated savings recommendations.
BBVA’s first financing deal in the UK
Alongside Eurobank, BBVA now also supports Plum, joining a network of international investors and funding partners backing its growth journey, including dmg ventures, Global Brain, and Venture Friends.
“This is our first financing deal in the UK — a significant milestone, both for the importance of this particular market and for the broader development of our activities across the continent,” shared Donatella Callegaris, Head of Venture & Growth Lending at BBVA in Europe.
BBVA created a new team in London last October to strengthen its presence in Europe. This move followed BBVA’s rapid expansion in markets such as Argentina, Colombia, Spain, and Mexico, where it has already supported more than 1,500 clients and issued nearly €600 million in credit.
Milestones on the way
The Greek-founded startup has achieved several significant funding milestones since its inception.
In July 2021, the company raised €21 million in Series A funding. This round included participation from DMG Ventures, Ventura Capital, Global Brain, Venture Friends, and 500 Startups, but also a crowdfunding campaign via Crowdcube. Another round of funding followed later that year, with the startup locking €12 million from UK-based dmg ventures, Dubai-based Ventura Capital, Global Brain from Japan, Greek Venture Friends, and California-based 500 Startups.
Three years later, the company secured their Series B, totalling €19 million. €15.8 million came from institutional investors and €3.2 million through crowdfunding, again on Crowdcube, attracting over 5,500 investors. New investor iGrow Venture Capital joined existing investors such as Eurobank, Venture Friends, and Ventura Capital.
As of 2025, Plum has raised a total of €88.72 million over 15 funding rounds, including 3 seed rounds, 10 early-stage rounds, and 2 debt rounds.
