TLDR:
- Plum, a London-based smart money app, raised £16M in Series B funding.
- The funding will be used to expand product offerings and achieve profitability by 2025.
A London-based smart money app, Plum, has secured £16M in Series B funding. The round included £13.4M from institutional investors, with a second investment from Eurobank and new investor iGrow Venture Capital. Additionally, £2.7M was raised through crowdfunding. The company plans to use the funds to enhance its product offering in the UK market after the success of its Cash ISA.
Plum, led by CEO and Founder Victor Trokoudes, offers a smart money app that automates various aspects of personal finance, including saving, spending, and investing. The app has seen significant growth, with assets under management exceeding £1bn and revenue nearly doubling year-on-year. The company is on track to achieve profitability by 2025. Plum has offices in Athens, Greece, and Nicosia, Cyprus.
