Plum appoints former Monzo and Deliveroo exec as VP product

Money management app Plum has appointed a former Monzo and Deliveroo executive to oversee its product offering as it launches a US stocks investment product.

The appointment of Phu Ly follows Plum's recent $24m fundraise, which it is using to boost its presence in Europe and help with new launches including a US investment product.

In his role as product, vice president at Plum, Ly will be tasked with heading up Plum’s product offering. It is a newly-created role.

He has previously led teams at Monzo and Deliveroo and one initiative Ly will oversee is the launch of Plum’s US stock investment product in Q1.

Also, Plum, founded in 2016 which has two European bases in Athens and Nicosia, has been granted regulatory approval to offer investments in the EU, with launches planned in the Netherlands, Portugal, Belgium, Italy, Finland, Austria and Germany.

A payments card to help customers manage their everyday spending and budgeting is also in development, said Plum.

Victor Trokoudes, CEO and co-founder of Plum said: “Ly is a senior product strategist with an impressive track record of helping leading consumer brands improve their customer offering."

“Ly will lead the rollout of our new US stocks offering and oversee the development of other new investment and money-management products later in 2022.

Ly said: “I look forward to helping the team enhance what is already a fantastic proposition and enabling more people to secure their long-term financial future and improve their financial well-being.”