Key Points:
- New Investment:
- Plum secured a fresh investment totaling £16.1 million.
- Investment includes a £13.4 million Series B funding round and £2.7 million from a Crowdcube crowdfunding campaign.
- Series B Funding Round:
- Supported by Eurobank, Venture Friends, Ventura Capital, and new investor iGrow Venture Capital.
- Second tranche of investment from Eurobank, following a previous £8.4 million (€10 million) investment in December.
- Crowdfunding Campaign:
- Crowdcube campaign raised £2.7 million with more than 5,500 investors.
- The most popular campaign of the year.
- Previous Crowdcube campaigns raised £1 million in October 2022 and £6.2 million ($8 million) in December 2021.
- Company Performance:
- Plum claims to have “almost doubled” its year-on-year revenues as of March.
- Assets under management (AUM) now surpass £1 billion.
- Product Development:
- Launch of a “highly competitive” Cash ISA product and ETFs earlier this year.
- Plans for “game-changing products” in the pipeline.
- Future Goals:
- Plum aims to achieve profitability by 2025.
- CEO’s Comments:
- Victor Trokoudes, founder and CEO, highlights the exceptional 12 months for Plum and the team’s hard work.
- Focus on maximizing customer value and developing new products.
