Plum secures USD 10 mln in founding round

Wednesday 22 July 2020 11:12 CET | News

Plum, a Greece-based fintech that offers a money management app, has raised a USD 10 million in funding as it gears up for European expansion.

The new round was led by Japan-based Global Brain and the European Bank for Reconstruction and Development, which has also participated in previous Plum funding rounds. In addition, the company has received further funding from VentureFriend. Plum has raised USD 19.3 million in total since being founded in 2016.

By using Plumb, customers can link the app to their bank account and gain access to a range of functionality, including savings, investments, and analysis of their utility bills. Plum’s artificial intelligence also deems what clients can afford to save by analysing their bank transactions. It then puts money away each month in the form of round-ups and/or regular savings.

There is also an option to open an ISA investment account and invest based on themes, such as only in ‘ethical companies’ or technology. Another related feature is ‘Splitter’, which splits automatic savings between Plum savings pots and investments, selecting the percentage amounts to go into each pot, from 0-100%.

Plum plans to launch in Spain and France by the end of 2020. 

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Keywords: Plum, mobile app, Greece, fintech, Europe, Japan, Global Brain, European Bank of Reconstruction and Developments, VentureFriend, banks, savings, artificial intelligence, AI, transactions , ISA, technology, Splitter, Spain, France
Categories: Banking & Fintech
Countries: Europe
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Banking & Fintech

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