Plum has selected Upvest as its investment infrastructure provider in the UK, extending their partnership from continental Europe.
The arrangement will see Plum move its UK investment operations onto Upvest's Investment API, the same technology used to support Plum's investment offering across its European markets. Plum, which describes itself as a money app that helps people save and invest, has helped users set aside more than GBP 10 billion through the platform.
Phased migration and consolidation
According to the companies, the rollout in the UK will begin with investment funds, followed by stocks and exchange-traded funds (ETFs). Plum will then migrate its existing UK funds investment business onto Upvest's platform in a further phase.
Before this arrangement, Plum's investment operations across its markets relied on several providers operating across different parts of the value chain. Moving to Upvest replaces this multi-provider structure with a single brokerage and custodian setup, which the companies said is intended to reduce the number of integration points Plum has to manage as it continues to expand its user base.
Infrastructure scale and product capabilities
Upvest's infrastructure is built on a modular, API-first architecture and supports functions across brokerage, settlement, and custody, with the companies citing more than 99% automation across middle- and back-office processes. In addition, the platform is also designed to support real-time data and frequent product releases.
The UK migration is described by the companies as a test of Upvest's ability to support a consolidated infrastructure model at scale in the UK, following its earlier work in continental Europe. Upvest said financial institutions and fintechs have increasingly been moving away from multi-vendor or legacy setups toward single-partner infrastructure providers that can operate across markets.
Through the partnership dating back to 2023, Plum will be able to offer features such as fractional investing starting from GBP 1 and automated recurring investments, using Upvest's infrastructure to localise products for different markets.
Commenting on the extended partnership, Ed Simmons, VP Operations at Plum, said the company had seen a positive impact from its collaboration with Upvest in EU markets, and that bringing the arrangement to the UK was a natural next step in helping users build long-term wealth through investment services.
In addition, Symmie Swil, General Manager UK at Upvest, said Plum's decision to extend the partnership to its home market reflects trust built since 2023, adding that consolidating onto a single platform is intended to give Plum a more stable operational foundation as it enters its next stage of development.
