Search for...

Greek fintech startup Plum secures €12M, launches crowdfunding campaign next week

So far, the Greek fintech startup has managed to secure more than €32M in funding, with the last round being in July 2020 with investors such as Global Brain, the EBRD, and Venture Friends. 
Image credit: Plum
, ~

Greek fintech startup Plum has secured a new €12M funding, while it is also launching a crowdfunding campaign on October 18. Investors include UK-based dmg ventures, Dubai-based Ventura Capital, Global Brain from Japan, Greek Venture Friends, and California-based 500 Startups.

“Plum is welcoming support from several notable names from the fintech space as part of this round. Francesco Simoneschi, CEO & co-founder of Truelayer, Charles Delingpole, founder and CEO of ComplyAdvantage, and Hugh Strange, VP of Product at Nubank are backing Plum as angel investors, bringing with them a wealth of experience from across the sector”, the company said in a press release.

The startup, founded by Harvard economics grad Victor Trokoudes in 2017, developed a smart application that helps its users manage money with the help of artificial intelligence. Plum’s application analyses the users’ bank transactions and then tells them how much they can save or invest each month.

Currently, Plum has around 90 employees in offices across the UK, Greece, and Cyprus.

Starting from next week, Plum will also start to offer customers a stake in the company through a crowdfunding campaign, aiming to triple its valuation through a mix of crowdfunding and investments.

So far, the Greek fintech startup has managed to secure more than €32M in funding, with the last round being in July 2020 with investors such as Global Brain, the EBRD, and Venture Friends

Last year, Plum also registered over one million customers in the UK and managed to secure additional funding to expand on the European market, launching in France, Ireland, and Spain.

“Plum is already covering 26.6% of the EU population (119m people), and plans to cover 70.6% by the end of 2022 (316m people) with launches in the Netherlands, Portugal, Belgium, Italy, Finland, Austria and Germany”, the company says.

Plum’s next plans include launching a Plum debit card, as well as expanding stock trading by the end of the year. Plum also plans to launch a cryptocurrency-based product next year. 

Read more:  What does FintechOS aim to do with its latest €8M investment from IFC?

“Wealth for all is our mission and we’ve made some great strides towards making that reality this year, expanding our user base massively and delivering a product that looks more-and-more like a financial super app”, Trokoudes said in a statement.

“The appetite for smart and intuitive investment products is enormous, particularly in other parts of Europe where often old-fashioned banks are the only option for growing your money. With the help of this new investment and our upcoming crowdfunding, our app will become the natural choice for anyone in Europe looking to improve their finances for the long-term”, he added.

Before Plum, Trokoudes was a part of UK fintech unicorn Wise, leading the team that helped launch the company in 25 new markets. 

 

Help us grow the emerging innovation hubs in Central and Eastern Europe

Every single contribution of yours helps us guarantee our independence and sustainable future. With your financial support, we can keep on providing constructive reporting on the developments in the region, give even more global visibility to our ecosystem, and educate the next generation of innovation journalists and content creators.

Find out more about how your donation could help us shape the story of the CEE entrepreneurial ecosystem!

One-time donation

You can also support The Recursive’s mission with a pick-any-amount, one-time donation. 👍

https://therecursive.com/author/bojanstojkovski/

Bojan is The Recursive’s Western Balkans Editor, covering tech, innovation, and business for more than a decade. He’s currently exploring blockchain, Industry 4.0, AI, and is always open to covering diverse and exciting topics in the Western Balkans countries. His work has been featured in global media outlets such as Foreign Policy, WSJ, ZDNet, and Balkan Insight.