Investment app Plum raises $14M ahead of crowdfunding campaign

The steadfast hopes to rise a full of $24 cardinal successful backing to grow crossed Europe

UK-based concern app Plum has raised $14 cardinal arsenic portion of its bid A backing round, according to a property merchandise shared connected Friday.

The platform, which has offices successful London, Athens and Nicosia, has said the funds volition beryllium added to during a crowdfunding run scheduled for aboriginal this October, with the backing expected to emergence to $24 cardinal for its Series A financing round.

According to Yahoo Finance UK, implicit 20,000 radical person already shown involvement successful Plum's crowdfunding circular done Crowdcube.

In July 2020, the institution netted $10 cardinal successful a backing circular led by Global Brain, EBRD and VentureFriends. The latest concern circular has seen caller backers Ventura Capital and dmg ventures articulation the supra investors. There was besides important information from angel investors.

Expansion and crypto

Plum hopes to usage the funds to accelerate its enlargement crossed Europe, wherever it presently targets reaching implicit 300 cardinal radical by the extremity of adjacent year.

The enlargement includes plans to rotation retired a spending paper and US stocks earlier the extremity of 2021, and crypto-asset products by the summertime of 2022 arsenic it bids to go the starring concern app successful Europe.

According to Victor Trokoudes, the platform's co-founder and CEO, Plum is rapidly turning into a “super app", arsenic request among investors continues to grow.

"But there's a batch much enactment to beryllium done. The appetite for astute and intuitive concern products is enormous, peculiarly successful different parts of Europe wherever often old-fashioned banks are the lone fiscal enactment for increasing your money," Trokoudes added successful a statement.

Plum's USP is its AI-powered exertion that automates redeeming and concern for clients. The app makes handling idiosyncratic finances easier, particularly for those apt to find this portion of their beingness hard to spell about.