Plum plucks $14m from Series A raise

UK FinTech startup Plum FinTech has brought in $14m from a Series A funding round headed by Ventura Capital and DMG Ventures.

Also participating in the round were Global Brain, 500 Startups, Venture Friends, ComplyAdvantage CEO Charles Delingpole and Truelayer CEO Francesco Simoneschi.

Established in 2016, Plum FinTechs labels itself as the ‘ultimate money management app’. The app enables users to save, invest, compare bills and consolidate pension policies amongst other things.

Plum CEO and co-founder Victor Trokoudes said, “Wealth for all is our mission and we’ve made some great strides towards making that reality this year, expanding our user base massively and delivering a product that looks more-and-more like a financial super app. But there’s a lot more work to be done.

“The appetite for smart and intuitive investment products is enormous, particularly in other parts of Europe where often old-fashioned banks are the only option for growing your money. With the help of this new investment and our upcoming crowdfund, our app will become the natural choice for anyone in Europe looking to improve their finances for the long-term.”

DMG Ventures CEO Manuel Lopo De Carvalho added, “We’ve been seriously impressed with all elements of Plum and are excited to be supporting the team. They’re striking a chord with a rapidly growing number of consumers and have an exciting product roadmap for the next 12 months and beyond. Plum is bringing financial simplicity and sustainability to its users; much-needed in a world where everyone is dealing with a melee of financial considerations.”

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