Investment app Plum raises $14M ahead of crowdfunding campaign

The company hopes to lift a complete of $24 million in investment to amplify throughout Europe

UK-based funding app Plum has raised $14 million as a part of its collection A investment spherical, in step with a press free up shared on Friday.

The platform, which has places of work in London, Athens and Nicosia, has stated the budget will likely be added to all the way through a crowdfunding marketing campaign scheduled for later this October, with the investment anticipated to upward thrust to $24 million for its Sequence A financing spherical.

In step with Yahoo Finance UK, over 20,000 other people have already proven pastime in Plum’s crowdfunding spherical via Crowdcube.

In July 2020, the corporate netted $10 million in a investment spherical led by way of World Mind, EBRD and VentureFriends. The newest funding spherical has noticed new backers Ventura Capital and dmg ventures sign up for the above traders. There used to be additionally important participation from angel traders.

Growth and crypto

Plum hopes to make use of the budget to boost up its enlargement throughout Europe, the place it these days objectives achieving over 300 million other people by way of the top of subsequent yr.

The growth comprises plans to roll out a spending card and US shares sooner than the top of 2021, and crypto-asset merchandise by way of the summer season of 2022 because it bids to grow to be the main funding app in Europe.

In step with Victor Trokoudes, the platform’s co-founder and CEO, Plum is instantly changing into a “tremendous app”, as call for amongst traders continues to develop.

“However there may be much more paintings to be carried out. The urge for food for good and intuitive funding merchandise is big, in particular in different portions of Europe the place steadily out of date banks are the one monetary choice for rising your cash,” Trokoudes added in a remark.

Plum’s USP is its AI-powered era that automates saving and funding for purchasers. The app makes dealing with non-public budget more uncomplicated, particularly for the ones more likely to in finding this a part of their lifestyles tricky to move about.

The put up Funding app Plum raises $14M forward of crowdfunding marketing campaign seemed first on Coin Magazine.

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