Eurobank has invested €10mn (£8.6mn) and taken a minority stake in London-based money-saving and investment app Plum.
In brief:
- The first tranche of the investment (€5mn), was deployed in November and the rest of the investment is expected in the first quarter of 2024 (€15mn).
- Alongside the investment from the Athens-based finance institution, Plum and Eurobank have entered a strategic partnership that will support Plum’s growth in European markets.
- Since its foundation, Plum has raised more than £57mn, currently has more than 1.8 million users across all markets and aims to reach 700,000 active users in Greece by the end of 2027.
What does this mean?
“Many people are continuing to struggle with cost-of-living challenges, and need help to build their financial resilience,” said Victor Trokoudes, founder and CEO of Plum. "The Plum app is uniquely designed to address this through automation and AI. Now we want to push further, winning in the European market with the support of Eurobank. We look forward to seeing the impact of this unique partnership.”
