BUSINESS

Startup Plum secures funding for expansion in continent

TAGS: Business

London- and Athens-based fintech startup Plum has secured funding of $10 billion (8.6 billion euros) for its expansion in the European market, after securing over 1 million users in the United Kingdom.

The company whose co-founder and chief executive is Victor Trokoudis, has developed an application that uses artificial intelligence to help users save and manage their money to record capital gains.

The main investors in this round of financing for Plum are the Global Brain investment fund, based in Japan, and the European Bank for Reconstruction and Development that had also participated in previous rounds.

Plum also received further funding from Greek fund VentureFriends and 2.5 million pounds (€2.75 million) from the UK state Future Fund.

The startup founded in the UK in 2017 has so far secured a total of $19.3 million in funding. It intends to expand by the end of the year to Spain and France, and increase its employees in Athens and London from 60 today to 80 by the end of 2020, while upgrading the product it offers its users.

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