Plum funding news – London-based Plum Secures €19 Million in Series B Round Funding

In addition, the business successfully raised an extra €3.2 million through crowdfunding in the most well-liked campaign of the year on Crowdcube, which attracted over 5,500 investors from the UK and EU. With this, Plum's Series B funding round has raised a total of €19 million.

The business had been performing well before the financing was obtained. Since its 2017 launch, the company has experienced remarkable development, and today over 2 million users in ten European markets use the app to easily set money aside.

Victor Trokoudes, Plum founder and CEO, commented: “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.”

The company's assets under management (AUM), which tripled in a year, recently exceeded £1 billion. The success of Plum's fiercely competitive Cash ISA, which debuted in March and has allowed for more organic UK acquisition at minimal or no expense, contributed to this surge.

The company's income has nearly doubled annually thanks to strong subscription streams, which have seen an average revenue per client increase of 40%*. Plum's revenue has increased, and the increase in AUM has also helped the company approach profitability by 2025.

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Following the success of its Cash ISA, Plum will continue to expand its product line in the UK in the interim with the goal of giving the most comprehensive app available for investors and savers.

It just introduced ETFs for EU consumers and partnered with Eurobank to speed its expansion in the region. The company has big intentions for the rest of Europe as well. By the end of 2027, the app hopes to have hundreds of thousands of users in Greece. It and Eurobank have a strategic partnership in which the latter will introduce Plum to its clientele.

Anastasios Economou, Founding Partner of iGrow Venture Capital, said: “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 democratisation 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.”

About Plum

Plum does not offer investing advice. As a private investor, you should decide for yourself or get guidance from a qualified third party. Investment values might rise and fall, and you might end up with a lower return than you started with or lose all of your initial investment. Previous performance does not always translate into future success. Changes in currency rates might have a negative effect on your initial investment's total returns.