Smart money app Plum has closed Series B funding, including almost £3M from retail investors.
The company aims to reach profitability by 2025 while expanding its product offerings.
The smart
money app Plum has successfully raised £16 million in its Series B funding
round, including £13.4 million from institutional investors and £2.7 million
via crowdfunding. The investment comes when the fintech startup has seen its
assets under management (AUM) triple to over £1 billion in the past year.
Smart Money App Plum
Secures £16m in Series B Funding Round
The funding
round was led by new anchor investor iGrow Venture Capital, with participation
from existing backers, including Venture Friends and Ventura Capital. Strategic
partner Eurobank also contributed a second tranche of investment. The
crowdfunding portion, conducted on Crowdcube, attracted over 5,500 investors
from across the UK and EU, marking it as the platform's most popular campaign
of the year.
Plum, which
launched in 2017, has experienced rapid expansion and now serves more than 2
million customers across 10 European markets. The company's revenue has nearly
doubled year-over-year, bolstered by a 40% increase in average revenue per
customer.
“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,” Victor
Trokoudes, Plum's founder and CEO, commented. “We're focused on what's next and
how to get even more people maximizing their money with Plum.”
The recent
success of Plum's Cash ISA product in the UK has contributed to increased
organic customer acquisition at minimal cost. Looking ahead, the company plans
to enhance its product offerings in the UK and expand its presence in Europe,
with a particular focus on the Greek market through its partnership with
Eurobank.
“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,” Anastasios Economou, Founding Partner of
iGrow Venture Capital, one of the investors in the latest funding round,
commented.
With this
new infusion of capital, Plum aims to reach profitability by 2025 while
continuing to develop new features for its growing user base.
Plum Expands European
Presence
Last year,
the platform announced its expansion into several new countries, including
Italy, Portugal, the Netherlands, Greece, and Cyprus. Plum, a fintech platform,
provides money management services that enable retail clients to set aside monthly savings automatically. It also offers the opportunity for customers to
invest in stocks, featuring a selection of up to 3,000 US stocks with no
commission fees, and includes a VISA debit card as part of its services.
Meanwhile,
Plum has formed a partnership with cryptocurrency service provider Bitpanda.
This collaboration enables Plum to offer its customers the ability to trade
major cryptocurrencies in Europe, including Bitcoin (BTC) and Ethereum (ETH).
Additionally,
the company announced the appointment of Erinoula Kyrantonis as its new Head of
Branding and Communications. Kyrantonis manages Plum’s brand positioning and ensures consistency across all communication channels. She
brings a wealth of brand and marketing experience from her previous roles with
leading consumer brands such as Red Bull and Vita Coco.
The smart
money app Plum has successfully raised £16 million in its Series B funding
round, including £13.4 million from institutional investors and £2.7 million
via crowdfunding. The investment comes when the fintech startup has seen its
assets under management (AUM) triple to over £1 billion in the past year.
Smart Money App Plum
Secures £16m in Series B Funding Round
The funding
round was led by new anchor investor iGrow Venture Capital, with participation
from existing backers, including Venture Friends and Ventura Capital. Strategic
partner Eurobank also contributed a second tranche of investment. The
crowdfunding portion, conducted on Crowdcube, attracted over 5,500 investors
from across the UK and EU, marking it as the platform's most popular campaign
of the year.
Plum, which
launched in 2017, has experienced rapid expansion and now serves more than 2
million customers across 10 European markets. The company's revenue has nearly
doubled year-over-year, bolstered by a 40% increase in average revenue per
customer.
“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,” Victor
Trokoudes, Plum's founder and CEO, commented. “We're focused on what's next and
how to get even more people maximizing their money with Plum.”
The recent
success of Plum's Cash ISA product in the UK has contributed to increased
organic customer acquisition at minimal cost. Looking ahead, the company plans
to enhance its product offerings in the UK and expand its presence in Europe,
with a particular focus on the Greek market through its partnership with
Eurobank.
“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,” Anastasios Economou, Founding Partner of
iGrow Venture Capital, one of the investors in the latest funding round,
commented.
With this
new infusion of capital, Plum aims to reach profitability by 2025 while
continuing to develop new features for its growing user base.
Plum Expands European
Presence
Last year,
the platform announced its expansion into several new countries, including
Italy, Portugal, the Netherlands, Greece, and Cyprus. Plum, a fintech platform,
provides money management services that enable retail clients to set aside monthly savings automatically. It also offers the opportunity for customers to
invest in stocks, featuring a selection of up to 3,000 US stocks with no
commission fees, and includes a VISA debit card as part of its services.
Meanwhile,
Plum has formed a partnership with cryptocurrency service provider Bitpanda.
This collaboration enables Plum to offer its customers the ability to trade
major cryptocurrencies in Europe, including Bitcoin (BTC) and Ethereum (ETH).
Additionally,
the company announced the appointment of Erinoula Kyrantonis as its new Head of
Branding and Communications. Kyrantonis manages Plum’s brand positioning and ensures consistency across all communication channels. She
brings a wealth of brand and marketing experience from her previous roles with
leading consumer brands such as Red Bull and Vita Coco.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Ebury Kicks Off Partnership with AS Monaco for Upcoming Ligue 1 Season
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
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👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage.
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In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage.
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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Don't miss out on our latest videos, interviews, and event coverage.
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
📣 Stay updated with the latest in finance and trading!
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IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
📣 Stay updated with the latest in finance and trading!
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