Plum secures £1m in crowdfund so far

Plum-smart-money-app-london-raises-£1m-crowdfund

Plum, a London-based smart money app, has raised £1m so far in the first eight hours of its crowdfund.

According to a report from Bdaily News, more than 3,700 people have invested so far, from nationalities spanning the UK, Greece, Cyprus, France, Bulgaria, Belgium and Spain.

Further share allocation has been made available and crowdfunding is still open to new investments for five more days.

Plum was founded in 2016 by Victor Trokoudes (ex-Wise). The company is on a mission to improve financial resilience and make people better off over their lifetime

Plum announced it would launch its third crowdfunding round earlier this month, after it secured £5m in debt financing from Silicon Valley Bank.

Since its last crowdfund 12 months ago, the company has launched commission-free investing, expanded into new European markets, enabled crypto trading and launched a debit card.

Following these developments, Plum has grown its customer base to 1.4 million, an almost 50% increase in the last year, and helped people set aside £1.4bn.

Plum said it plans to use the additional finances from Silicon Valley Bank UK and the forthcoming crowdfunding round to accelerate its European expansion, refine its products further to best serve its customer’s needs and build an even faster, more cohesive app.

Victor Trokoudes, CEO and co-founder of Plum, said “I want to thank our 3,700 investors for joining Plum in its journey with this new round of crowdfunding. I am thrilled to see that our campaign has secured such good traction in a short amount of time and I am excited for what is yet to come.

“Plum has worked hard to deliver its promises in 2022, bringing major new features to its app, from introducing commission-free investing and a debit card, to expanding into new European markets and enabling crypto-currency trading.

“As we look towards the future, we are eager to push even stronger features, winning in the European market with our standout proposition.”

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