In a Nutshell
- Greek-founded Plum, a smart money app, has secured €15.8M in funding from institutional investors and €3.2M via crowdfunding in Crowdcube, with more than 5,500 investors.
- To date, the FinTech app has raised €63M.
- New investor iGrow Venture Capital participated in the round, along with existing ones including Venture Friends and Ventura Capital.
Get the Details
Plum, founded in 2017 by Victor Trokoudes, is a developer of personal savings assistant solutions for customers. The idea is that the user could save, spend, earn and invest, in one app. It utilizes AI powered saving tools and investment features which aims to make building and diversifying the user’s portfolio seamless.
With the current funding, Plum will continue to expand its product offerings in Greece and the UK. Their goal is to create the most comprehensive app for savers and investors available on the market.
“It has always existed within Plum to optimize processes and important internal tools that we’re using more and more to become more efficient and reduce waiting time with customers and improve our operations internally,” Victor Trokoudes shared previously for The Recursive.
Moreover, Plum has plans to expand its presence further across Europe. The app aims to reach hundreds of thousands of customers in Greece by the end of 2027.
Plus has recently introduced ETFs for EU customers, partnering with Eurobank to boost its growth in the region. As part of their strategic cooperation, Eurobank will introduce Plum to its clients.
In Their Own Words
“It has been an exceptional 12 months for Plum, and this new round of funding is testament to the hard work of the team and the value we’re providing for customers across Europe. The need for a smart app that helps people grow their money for life has never been stronger, and we’re already delivering this to millions of people,” shared Victor Trokoudes, Plum founder and CEO.
Based on their data, the company’s revenue has nearly doubled compared to last year.
“We’re focused on what’s next and how to get even more people maximizing their money with Plum. Following the success of Cash ISA in the UK and ETFs in Europe, we’re well-placed to reach profitability which is a major and important milestone for us. And we have game-changing products in the pipeline that will take our app to the next level for customers. It’s a really exciting time,” he added.
Investor’s Perspective
“iGrow is always looking for transformative ideas such as Plum’s. Making savings solutions accessible to all, not just high-net-worth individuals, is a democratization and revolution in the industry. We are excited to see the expansion across Europe and Greece. We have full confidence in the Plum team’s capacity to keep expanding,” shared Anastasios Economou, Founding Partner of iGrow Venture Capital.
