Saving and investing FinTech Plum is launching a new crowdfunding campaign - and aims to triple its valuation.
In Brief:
Plum enables customers to automate savings from their bank account as well as invest from the app.
It plans to triple its valuation through both crowdfunding and institutional investors.
The campaign will be live on Crowdcube in the coming weeks.
What does this mean?
Alongside the news about seeking further investment, Plum reports it has seen a 240% growth in assets under management (AUM) and an increase in revenue of 189%.
Indeed, since its last crowdfunding campaign in 2019 the global pandemic has prompted an uptick in the use of personal finance management tools, as well as an interest in retail investing – so it will be interesting to see how quickly the shares are snapped up on Crowdcube this time around, as well as which institutional investors take an interest.
