London based fintech startup, Plum has raised US$10 Million in venture round. According to EU-Startups report, the funding will propel the company’s growth across Europe and help in enhancements of its services.

Founded in 2016 by Alex Michael and Victor Trokoudes, the startup uses AI to automate key parts of personal finance, such as saving, switching bills, and investing. Plum has raised a total of US$20.5 Million over 6 rounds. In November 2019, the company raised US$3 Million.

The round was led by Japan’s Global Brain and the European Bank for Research and Development. The company has also received funding from long-term investors VentureFriends. The funding has been matched to £2.5 Million as part of the UK government’s Future Fund scheme. The Future Fund issues convertible loans between £125000 to £5 Million to the companies facing financial problems due to Covid-19.

#Europe #Investors #London #Plum
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Where to invest:https://www.crowdcube.com/companies/plum/pitches/lKnxKq
Company website:http://withplum.com/

Plum is a savings & investment platform that aims to effortlessly grow people’s wealth through automation. After going live in Europe, Plum is poised to launch a US stocks offering, crypto and its own debit card so its ~1m customers can manage their finances within one app. Invest alongside dmg ventures and Ventura capital.
Plum is built to improve financial outcomes for everyone by helping customers save, invest & spend smarter.

By connecting to people’s bank accounts or cards, Plum uses automation to help customers manage their wealth in a tailored and effortless manner across a wide array of financial products/asset classes, all within one app. Our measure of success? Aiming to expand our customers’ wealth 20% by the end of their lifetime in a context where interest rates are lower than inflation.

Key highlights:

– Doubled users to ~1m in just 1 year – aiming for +4.5m in 2 years

– Saved & invested +$900m since inception; tripled AUM since last year

– Expanded into 3 EU markets (France, Ireland and Spain) and targeting the rest of Europe by the end of 2022 – expanding our reach by 6x

– Received initial European regulatory approval to offer investment products across Europe, allowing us to become one of the few Pan-European savings & investment platforms

– Beta launched a dedicated pension consolidation product so users can transfer & manage pensions via Plum’s own SIPP

– US stock trading platform due to go into beta this month; fully live planned Q4-21

– Poised to launch a debit card that’s integrated with Plum’s automated tools

Having just closed £10m from investors & VCs including dmg ventures and Ventura Capital, we’re inviting you to join our journey and be part of the future of financial automation.

https://magic.freetrade.io/join/ashik/1704a870 Join me and invest commission-free with Freetrade. Get started with a free share worth £3-£200.

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Disclaimer: The footage in this video was created as promotional/educational material. If you are the creator or owner of the footage and have reservations please notify us via youtube comments or email and we will accommodate you.

Capital at risk

We spoke to Victor Trokoudes, founder and CEO of AI money management app Plum about the recent savings boom, and how people can better manage their money. Learn more about Plum here https://www.finder.com/uk/plum-savings-review

Capital at risk.

#plum #money

“11.5 million people in the UK have less than £100 savings”

Ever feel like the system is stacked against you? We’ve got the solution ��‍��

GIVE YOUR BANK A BRAIN

• You link Plum to your bank account (we support major UK banks)

• Plum regularly analyses your transactions to learn about your income and spending

• Plum then sets money aside for you, invests it for your future, and stops you being overcharged on bills. All without you having to think about it!

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As with all investing, capital is at risk.