Plum secures £16m Series B amid rapid growth and profitability push
UK-based fintech company Plum has raised £13.4 million from institutional investors, including a second tranche from strategic partner Eurobank. Additionally, the company secured £2.7 million through a crowdfunding campaign on Crowdcube, which saw participation from over 5,500 investors across the UK and EU. This brings the total funding for Plum's Series B round to £16 million.
The investment follows a period of significant growth for Plum, with its assets under management (AUM) surpassing £1 billion, tripling in the past year. Despite this rapid growth, the company aims to achieve profitability by 2025. The new capital will support the expansion of Plum's product offerings in the UK and its goal to reach hundreds of thousands of customers in Greece by the end of 2027. New anchor investor iGrow Venture Capital, along with previous investors including Venture Friends and Ventura Capital, also participated in the funding round.
