London and Athens-based smart money management app Plum has secured $10 million in a fresh round of funding led by the Japanese firm Global Brain and the European Bank for Reconstruction and Development. The support also came from VentureFriends, the Athens-based VC company which takes the total amount raised by Plum to $19.3 million since its inception.
Plum was started by Alex Michael and Victor Trokoudes in 2018 as a platform that wants to become a user’s financial hub or control center which is completely different than the first generation of personal finance management apps or the physical banks.
The firm intends to use the freshly raised capital for its expansion across Europe and it first plans to launch in Spain and France by the end of this year. It also aims to grow the team size using fresh funds.
Victor Trokoudes, the CEO and co-founder of the firm says that “Plum is becoming the one single app for all your financial needs. This fundraising reflects investors’ trust in our mission, particularly at a time when saving money and optimizing spending is crucial. With Plum at their side, everyone can have full control of their money in one place. This new version of Plum has a universal appeal and will help us make even more people better off. At Plum, we’re doing things differently, from saving, interest, and pensions, to the trading of stocks and ETFs, Plum is the brainy app that doubles your money.”
Global Brain Corporation's Europe office representative Naoki Kamimaeda says that “More users have started using fintech apps and personal financial management apps across the globe, to be more efficient and be better off. Among these fintech apps, Plum has a very unique position and very bold ambition to be a partner of individuals to save more money and manage their financial life in an easier and more effective manner.”
Image courtesy: Money Nuggets