Plum expands into another five European countries

Plum is doubling its reach today as it takes its saving and investment app to another five European countries.

The smart money app is expanding to Italy, Portugal, Greece, Cyprus and the Netherlands as it firmly stamps its mark on Europe.

Founded in the UK in 2016, the smart money app automates savings by setting money aside regularly according to customer goals.

Alongside its money-saving features, users can also invest in up to 3,000 US stocks through the app.

“This is a challenging economic period as people are experiencing levels of inflation not seen in decades, leading to cost of living challenges,” Plum co-founder and CEO Victor Trokoudes said.

“The need for long-term financial resilience has arguably never been clearer and we created Plum precisely to help people tackle this, helping ensure that your money management is automated and wealth looked after for the future.”

Trokoudes said that its new presence in 10 markets – it was already available in the UK, France, Spain, Ireland and Belgium – shows Plum “truly [is] a European company”.

“At Plum, we are committed to empowering people with a complete money toolkit, helping them nurture their financial wellbeing today and for the long run, giving motivation to their money,” he continued.

“The intelligence of our app means we can offer a smart alternative to traditional tools and help people make their money go further in multiple ways.”

Plum raised £1.7m in October through a crowdfund, hitting its £1m target in just eight hours.

The money added on to a £5m debt round led by Silicon Valley Bank just a few weeks prior, with Trokoudes saying at the time that the fresh funding would be used to further establish the app in Europe, following a successful year of working to understand European markets.