Plum, a UK-based smart money application, has successfully secured a €10 million minority equity investment from Eurobank in Greece, marking the beginning of a strategic collaboration in the region.
Having established a strong presence in the UK, Plum has expanded its operations to ten European markets, amassing a user base of 1.8 million individuals. The company is now focusing its growth efforts on Greece and the wider southeastern European market through this partnership with Eurobank, with plans to launch a fully digital wallet that emphasizes digital savings and investment services. Plum aims to achieve 700,000 active users in this region by the end of 2027.
The investment from Eurobank is structured in two phases, with €5 million already allocated and an additional €5 million expected as part of a €15 million funding round scheduled for early next year. Following a year in which its revenue doubled, Plum is leveraging this partnership and capital infusion to target profitability by early 2025.
Victor Trokoudes, the CEO of Plum, stated, “Many individuals are facing ongoing challenges related to the cost of living and require support in enhancing their financial resilience. Our app is specifically designed to help with this through automation and artificial intelligence. With Eurobank’s backing, we are eager to deepen our impact in the European market.”