Money Management App Plum Secures $14M in Series A Funding Round

The money management marketplace headquartered in the UK Plum announced recently that it has secured $14 million of an expected $24 million Series A financing round.

Ventura Capital and dmg ventures has joined the firm’s existing investors, including Global Brain, VentureFriends and 500 Startups. In addition, angel investors including Francesco Simoneschi, CEO and co-founder of Truelayer, Charles Delingpole, CEO and founder of ComplyAdvantage, and Hugh Strange, VP of product at Nubank has participated in this round.

Formed in 2017, the startup is dedicated to leveraging AI to automate crucial parts of individual finance for clients, such as automatic savings, money transfer and investing.

Plum intends to use the funding to extend footprints and enhance offerings. Moreover, it plans to offer access to its users in France, Spain and Ireland to its US stocks product rolled out later this year.
“Wealth for all is our mission and we’ve made some great strides towards making that reality this year, expanding our user base massively and delivering a product that looks more-and-more like a financial super app. But there’s a lot more work to be done,” Victor Trokoudes, CEO & co-founder of Plum, stated.