Finance app Plum is bullish about its ability to attract five million people to its services.
Co-founder Victor Trokoudes, the former head of international payments at TransferWise, the UK FinTech unicorn, made the statement in a new interview with The Telegraph.
“We’re approaching one million users in the UK alone and will be saving users £200m by the end of the year,” he said. “Since we launched our iOS and Android apps last year, we’ve seen high rates of organic growth and expect to reach five million users by the end of 2021.”
The first step to attracting that massive number of new users is Plum’s planned expansion into France and Spain later in 2020.
“For us, expansion is all about meeting the huge need in the European market for better ways to save, switch and grow money for the long-term,” Trokoudes said.
Plum raised $3m in a funding round in November 2019 at the same time as it announced its release on Android smartphones. The finance management company had raised $4.5m earlier in the year.
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