Plum
2016
Year Founded
2022
Year Selected
London, England
Location(s)
101-250
Team Size
THE MISSION
Plum, a member of the Scale Up 5 Cohort, is a UK-based fintech company founded in 2016 that uses AI and behavioral economics to help people manage their finances by automating savings, investments, and providing insights on expense management. Operating across several countries with offices in London, Athens, and Barcelona, Plum has raised over $60 million in funding. Its app empowers users to save, spend, earn, and invest seamlessly in one platform, helping them take control of their financial journey. Since its launch in 2017, Plum has grown from a simple chatbot to a comprehensive money management tool, with 1.3 million users and partnerships with financial institutions like Eurobank. Trusted by over 2.2 million users, Plum has helped customers save and invest €1.2 billion while making financial management effortless.
Plum recently raised €16m in a Series B funding round. This significant sum includes €13.4 million from institutional investors and an additional €2.7 million from a highly successful crowdfunding campaign. Plum strategically partnered with Eurobank to build their efforts to secure a larger share of the Greek market. Eurobank is one of the largest financial institutions in Greece and one of the country’s four largest lenders.
Plum in Three:
What problem is Plum solving? Plum automates saving, investing, and managing expenses to help people achieve their financial goals with less effort.
What’s innovative about Plum? Plum’s use of AI and behavioral economics to seamlessly automate financial management is its key innovation.
Who can use Plum? Anyone looking for an easier way to manage savings, spending, and investments can use Plum’s app.
OUR TAKE
What excites us about Plum is their innovative use of AI and behavioral economics to simplify money management and make it more accessible to a wider audience. Their freemium business model and revenue streams through investment commissions and partnerships with financial institutions also show a sustainable and scalable growth potential. Additionally, their commitment to improving financial wellbeing and aligning with the Endeavor mission of supporting high-impact entrepreneurs makes Plum an attractive investment opportunity.
