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Plum to expand commission-free investing to France and other European markets

Customers of Plum's free Basic subscription can access more than 500 US stocks while those which subscribe to its new paid-for Premium tier will have access to a broader range of stocks.

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Victor Trokoudes/ Plum

Plum is launching commission-free stock investing and a debit card for its customers in France, Belgium, Spain and Ireland. 

The savings and investment app already offers these services in the UK but is now expanding them to the quartet of European countries.

Commission-free trading is becoming increasingly prevalent amount the trading community.

Customers of Plum's free Basic subscription can access more than 500 US stocks. They can invest as little as €1 through fractional shares in companies such as Google, Tesla or Amazon. 

Later this month, Plum will be launching a Premium tier, supplementing its existing Basic free and Pro tier.

The new Premium tier, priced at €9.99 per month, will offer a broader range of stocks, amounting to 1,000 stocks initially then rising to 3,000.

It is also expanding the rollout of its debit card to the four new markets for its subscription customers.

The plum-coloured VISA debit card can be used to pay online, contactless or directly at the merchant, and withdraw cash without additional fees anywhere in Europe, Plum said.

Victor Trokoudes, CEO and co-founder of Plum says: "Our goal is to make Plum the only personal finance app our customers will ever need. 

"Many people believe that investing is too complicated, and they have no idea where to start. Plum is making investing easier to access and understand. In times like these, we want to give everyone a helping hand to make their money go further." Founded in 2016, Plum now has 1.3m users, and has raised $46m since its inception and, like other fintechs, is following a “super app” model.

The commission-free investment space is becoming increasingly crowded with the likes of Revolut,Freetrade and Square and Robinhood in the space.

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Victor Trokoudes

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