The company hopes to raise a total of $ 24 million in funding to expand across Europe
British investment app Plum raised $ 14 million as part of its Series A funding round, according to a press release released on Friday.
The platform, with offices in London, Athens and Nicosia, has announced that funds will be topped up during a crowdfunding campaign scheduled for late October, with funding for its Series A funding round expected to rise to $ 24 million.
Corresponding Yahoo Finance Germany, over 20,000 people have already shown interest in Plum’s crowdfunding round via Crowdcube.
In July 2020, the company raised $ 10 million in a financing round led by Global Brain, EBRD and VentureFriends. In the latest investment round, in addition to the above-mentioned investors, the new financiers Ventura Capital and dmg ventures have also been added. There was also significant participation from angel investors.
Extension and crypto
Plum hopes the funds will accelerate its expansion across Europe, where it is currently expected to reach over 300 million people by the end of next year.
The expansion includes plans to launch a purchase card and US stocks before the end of 2021, as well as crypto asset products by summer 2022, to become the leading investment app in Europe.
According to Victor Trokoudes, co-founder and CEO of the platform, Plum is fast becoming one “Super app”as investor demand continues to grow.
“But there is still a lot to be done. The appetite for intelligent and intuitive investment products is enormous, especially in other parts of Europe where old-fashioned banks are often the only financial option to increase your money.” Trokoudes added in a statement.
Plum’s USP is its AI-powered technology that automates saving and investing for customers. The app makes it easier to manage personal finances, especially for those who are likely to be struggling to get through this part of their life.