Plum enters strategic partnership with Eurobank
The bank has also taken a minority equity investment of €10m in the app as part of the partnership
Smart money app Plum is partnering with Eurobank to expand its presence in Greece.
The fintech aims to offer customers in Greece and the surrounding markets a fully digital wallet, with a specific focus on digital savings and investments.
Plum aims to reach 700,000 active customers in Greece by the end of 2027, as it pushes to “turbocharge” its growth in the EU following its success in the UK.
“The digital trends are promising and there is a clear gap for an app like Plum to help Greek consumers with their money management,” Plum founder and CEO Victor Trokoudes said.
“Many people are continuing to struggle with cost of living challenges, and need help to build their financial resilience,” he continued.
“The Plum app is uniquely designed to address this through automation and AI. Now we want to push further, winning in the European market with the support of Eurobank.”
As part of the partnership, Eurobank is also investing in Plum.
It has taken a minority investment of €10m, half of which happened in November, with the other half coming in the first quarter of next year as part of a €15m close with other institutional investors.
Having onboarded more than 1.8 million users so far and seen revenue more than double over the past year, Plum has set itself on a growth trajectory for next year and beyond with both the partnership and the raise, with the aim of hitting profitability in early 2025.