Plum taps Upvest to launch EUR-nominated stocks and ETFs in Europe
“By integrating our investment infrastructure, Plum will not only be able to offer a wider range of investment opportunities to its users but also accelerate its internationalization.”
Berlin-based fintech firm Upvest has entered into a strategic partnership with Plum, the innovative smart money app, to provide its investment API. This collaboration marks a significant step forward for Plum as it expands its array of investment options for European Union (EU) customers.
Plum currently offers EU customers access to 3,000 US stocks. However, with the integration of Upvest’s investment API, Plum will gain the capability to provide direct and fractional investments in EUR-nominated Exchange-Traded Funds (ETFs) and stocks to users in all nine of its EU markets, including France, Ireland, Netherlands, Belgium, Italy, Spain, Portugal, Cyprus, and Greece.
This expansion promises to deliver a broader and more enriched investment experience to Plum’s EU user base.
Upvest offers integrated exchange and custody connectivity for European flow
The selection of Upvest as Plum’s pan-European partner underscores its growing presence in the fintech landscape, positioning itself as the preferred choice for companies seeking to extend their reach within the European market.
Upvest’s integrated exchange and custody connectivity for European flow ensures an end-to-end solution for order placement, settlement, and custody. With this partnership, Plum will have the capability to offer real fractional shares to its users, particularly appealing to retail investors. By owning fractional shares, retail investors become legal shareholders, enjoying dividend rights and participation in corporate actions.
Victor Trokoudes, co-founder and CEO of Plum, said: “At Plum, we are passionate about enabling our customers to build wealth for the long run, and our partnership with Upvest will only support us in our mission. We have been looking for the right partner to expand our investment offering, and we’re delighted to have found a like-minded fintech that can support us. Upvest was the obvious choice for us, as their expertise, speed, and commitment to excellence are unparalleled.”
Martin Kassing, CEO and founder of Upvest, commented: “We are thrilled to welcome Plum on board! Upvest’s scalable and seamless API will empower Plum’s further growth in the European market. By integrating our investment infrastructure, Plum will not only be able to offer a wider range of investment opportunities to its users but also accelerate its internationalization.”
The partnership between Upvest and Plum is set to bring about a transformative shift in the investment landscape for EU customers. With expanded access to a diverse range of investment options, including direct and fractional investments in EUR-nominated ETFs and stocks, Plum’s users will have greater flexibility and choice in building their investment portfolios.
