Plum, an artificial intelligence (AI)-enhanced smart savings mobile app, has raised $10 million through its latest investment round, which was led by Japan’s Global Brain, and the European Bank for Reconstruction and Development. The latest investment comes less than a year after Plum raised $3 million through its previous funding round.
Founded in 2016, Plum describes itself as an AI assistant that boosts users’ bank balance. The app notably analyzes users’ income and outgoings and automatically sets small safe amounts of money aside.
“Plum monitors your current account and every few days moves some money, if you can afford to, to your Plum account. You can access that money instantly at any time, so you don’t have to worry about unexpected expenses.”
Plum further noted that the app analyzes accounts so it can learn about income, expenses, and spending patterns. The data is safe as Plum uses bank-grade security and works with the main UK banks and challengers like Monzo and Revolut. Plum also notifies users about their balance, gives them access to their money, and offers tips on how to save more.
Along with the investment round, Plum also announced the launch of its new OneView interface, which allows users to connect multiple banks and credit card accounts to get a total overview of financial statuses.
“Plum OneView now shows you a total overview of your finances at a glance, letting you filter your transactions by each account, and even quickly search for specific retailers with a few taps.”
Plum OneView is totally free and will be available for everyone.