Fintech app Plum expands into five European countries

Plum

Money management app Plum is launching in five new countries: Italy, Portugal, the Netherlands, Greece and Cyprus.

Plum is a subscription financial management app that offers investments, stocks, pensions and a physical spending card. Features include automated saving and investing.

The five new countries add to its existing presence in the UK, France, Spain, Ireland and Belgium.

“The need for long-term financial resilience has arguably never been clearer and we created Plum precisely to help people tackle this, helping ensure that your money management is automated and wealth looked after for the future,” said Victor Trokoudes, co-founder and CEO of Plum.

In October, London-headquartered Plum raised £1m in 8 hours through its crowdfunding campaign and raised £5m in a debt funding round led by Silicon Valley Bank. Plum to date has raised more than $45m (£36.6m).

According to the company it has more than 1.5 million users.

Trokoudes added: “Being present in 10 markets overall demonstrates we truly are a European company. At Plum, we are committed to empowering people with a complete money toolkit, helping them nurture their financial wellbeing today and for the long run, giving motivation to their money.”

Before founding Plum in 2016, Trokoudes worked for Wise as its head of international and banking.