Plum pockets €21 million and plans European growth

Plum, the London-headquartered money management platform launched in London in 2016, has just completed a Series A funding round, having raised €21 million.

This specific close of funding for the fintech comes on the heels of a successful fundraising in October which saw remarkable investment from names such as dmg ventures, Ventura Capital, Global Brain, Venture Friends and 500 Startups. 

Plum went on to kickstart a crowdfunding campaign on Crowdcube and succeeded in raising the additional funding needed to close this round. The firm’s campaign was the fourth most popular Crowdcube fundraise of all time in Europe, reaching over 9,700 investors. 

With additional investors bringing the final total of this round to €21 million, the total funds raised by Plum stands at €37.8 million, and its valuation has grown by over 300% since its last funding round in July 2020.

Launched by Victor Trokoudes and Alex Michael, the fintech app’s core proposition is to eliminate financial instability and make people better off over their lifetime. Plum operates a system that helps to automate the parts of personal finance that most people consider time-wasting, too complex or arduous.