Smart Money App Plum Raises £1 Million in Just 8 Hours on Crowdcube

Plum, a smart money app, has easily topped its crowdfunding goal by raising over £1 million in just 8 hours on Crowdcube.

The securities offering launched last week and is scheduled to close tomorrow.

As it stands today, Plum has raised £1.65 million from 4277 investors. The EIS pending securities offering is for a convertible product that expects to convert to equity at a later date. The offering is available to both UK and European investors.

This is not the first go for Plum in raising capital online. Plum pursued an investment crowdfunding round just 12 months ago.

Plum reports that its customer base has grown to 1.4 million, approximately a 50% increase in the last year, and helped people set aside £1.4 billion.

Plum recently raised £5 million in debt capital from Silicon Valley Bank.

Plum has expanded into ninc EU markets – six just last month, thus expanding its addressable market.

Plum has a mission of becoming Europe’s penultimate savings and investing app. The neobank was founded in 2016 by Wise veteran Victor Trokoudes. The app, available on both iOS and Android, seeks to help its users save money by setting aside cash, and lowering bills while providing access to commission-free stock and crypto trading. It also offers a Plum-branded debit card. Plum states that it has raised $46 million in venture crowdfunded capital since its launch.

Plum Fintech Ltd is registered with the Financial Conduct Authority as an Account Information Service Provider and an electronic money agent.

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