5 years ago

Plum Raises €8.7 Million to Expand its Smart Money App Across Europe

  • Plum, a UK-based fintech startup, has raised €8.7 million in a Series B funding round led by Global Brain and the European Bank for Reconstruction and Development

  • The investment will support Plum's expansion across Europe and further develop its smart money app

  • Plum uses AI to automate key parts of personal finance, such as saving, switching bills and investing

  • The company has seen a surge in saving and utility switching via its app during the COVID-19 pandemic

  • Plum is now adding more competitive options for savers by offering interest on money set aside with Plum for the first time

  • The company plans to launch in Spain and France by the end of 2020.

      • ProblemFinancial Services

      "Many people in the UK and Europe struggle to save money and manage their finances effectively, especially during times of economic uncertainty like the COVID-19 pandemic."

      Solution

      "Plum is a smart money app that uses AI to automate saving, bill switching, and investing, helping users build wealth and improve their financial resilience. It provides a comprehensive financial management solution, including a one-view dashboard for all accounts, interest-bearing savings accounts, and personalized financial guidance."

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