The company hopes to raise a total of $ 24 million in funding to expand in Europe

UK investment app Plum has raised $ 14 million as part of its Series A funding round, according to a press release shared on Friday.

The platform, which has offices in London, Athens and Nicosia, said funds would be added in a crowdfunding campaign slated for late October, with funding expected to reach $ 24 million for its fundraising round. series A.

According to Yahoo Finance France, more than 20,000 people have already expressed their interest in the crowdfunding of Plum via Crowdcube.

In July 2020, the company raised $ 10 million in a funding round led by Global Brain, the EBRD and VentureFriends. The last round of investment saw new backers Ventura Capital and dmg ventures join the above investors. There was also a significant participation of angel investors.

Extension and crypto

Plum hopes to use the funds to accelerate its expansion across Europe, where it currently aims to reach more than 300 million people by the end of next year.

The expansion includes plans to roll out a spending card and U.S. stocks before the end of 2021, and crypto-asset products by summer 2022 as it aims to become the leading investment app in Europe.

According to Victor Trokoudes, co-founder and CEO of the platform, Plum is quickly turning into a “great application”, as investor demand continues to grow.

“But there is still a lot of work to be done. The appetite for smart and intuitive investment products is huge, especially in other parts of Europe where old-fashioned banks are often the only financial option for investors. grow your money. “ Trokoudes added in a statement.

Plum’s USP is its AI-powered technology that automates savings and investing for customers. The app makes it easier to manage personal finances, especially for those who are likely to find this part of their life difficult to lead.

Source link