The company hopes to raise a total of $ 24 million in financing to expand in Europe
British investment app Plum has raised $14 million as part of its Series A funding round, according to a press release released Friday.
The platform, which has offices in London, Athens and Nicosia, has said it will raise funds as part of a crowdfunding campaign planned for late October, with funding for the Series A round expected to rise to $24 million.
According to data from Yahoo Finance UK more than 20,000 people your Interest in Plum’s crowdfunding round via Crowdcube expresses.
In July 2020, the company received $10 million in a funding round led by Global Brain, EBRD and VentureFriends. In the latest investment round, the new investors Ventura Capital and dmg ventures joined the above-mentioned investors. Angel investors were also heavily involved.
Expansion and Crypto
Plum hopes to use the funds to accelerate its expansion across Europe, where the company currently has a goal of reaching over 300 million people by the end of next year.
The expansion includes plans to launch a cash card and US equities by the end of 2021, and crypto asset products by the summer of 2022 to become the leading investment app in Europe.
According to Victor Trokoudes, the co-founder and CEO of the platform, Plum is rapidly evolving into a “Super App“as demand continues to rise among investors.
“But there is much more work to do. The need for smart and intuitive investment products is enormous, especially in other parts of Europe, where often the old-fashioned banks are the only way to multiply his money“, Trokoudes added in a statement.
Plum’s unique selling point is its AI-powered technology that automates saving and investing for customers. The app makes it easier to manage personal finances, especially for those who find this part of their life difficult.