Plum launches smart money app in Portugal, Netherlands, Greece, Italy, Cyprus
“The intelligence of our app means we can offer a smart alternative to traditional tools and help people make their money go further in multiple ways. We’re excited to be helping people to save money, invest in stock markets and manage their spending, through one single app, and at a lower cost.”
Plum has announced the launch of its smart money app in Italy, the Netherlands, Portugal, Greece, and Cyprus as it further expands across Europe.
Already boasting 1.5 million users, Plus has opened in five new European markets as part of its growth plans after having raised £14 million in a Series A funding round from a host of investors that include Ventura Capital, dmg ventures, Global brain, and others.
The platform was launched in 2017 by former TransferWise employees Victor Trokoudes and Alex Michael of TicTail. The platform uses artificial intelligence to study user behavior across various parameters and designs customized products for its users that would help them in personal finance, like in making savings or investments as well.
Plum has recently added stock and crypto investing products to make its money app more attractive for retail consumers in Europe.
Plum is now present in ten European countries overall. The launch marks the next step in Plum’s European expansion, having successfully launched in the UK, France, Spain, Ireland and Belgium.
Customers can connect their bank accounts to Plum
Customers in Italy, Portugal, the Netherlands, Greece, and Cyprus can now automatically save, invest in 3,000 stocks commission-free, and control their budget with recyclable debit card
Plum customers in these markets can now connect their bank accounts to the app. Plum’s automated tools support people to manage their finances, helping them fight money inertia when it comes to making smart financial decisions.
The app allows its customers to diversify and grow their money over the long-term with its stock investing service. People can invest in up to 3,000 US stocks commission-free.
The firm also offers a 100% biodegradable and recyclable VISA debit card, available at no extra cost for its subscription-paying customers, allowing users to pay online, via Google Pay or directly at the merchant, or to withdraw cash without additional fees anywhere in Europe.
Victor Trokoudes, co-founder and CEO of Plum, commented: “We’re delighted to bring Plum to five new European countries and help people manage their finances there. This is a challenging economic period as people are experiencing levels of inflation not seen in decades, leading to cost of living challenges. 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.
“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. The intelligence of our app means we can offer a smart alternative to traditional tools and help people make their money go further in multiple ways. We’re excited to be helping people to save money, invest in stock markets and manage their spending, through one single app, and at a lower cost.”
Plum offers three subscription plans: Basic for free, Plum Pro for €2 per month and Premium for €9,99 per month. While the Basic tier gives access to Plum’s algorithm to help save money as well as the ability to invest in 1,200 Stocks, the Plum Pro account also offers additional smart rules such as Rainy Days, which puts aside extra money when it rains, and its new debit card. The Premium tier gives access to all of Plum’s features, including an additional 1,800 stocks in companies from around the world, making a total of 3,000 stocks available for investment.