Plum, a fast-growing Fintech, has launched a securities offering on Crowdcube this week and the pitch has quickly topped £6.5 million backed by over 9750 individual investors.
Plum is raising equity capital at a pre-money valuation of £90 million. Plum’s initial funding target was pegged at just £1 million.
Plum received an early boost when it announced that it had raised $14 million as part of a Series A funding round just last week.
We’ve got more good news… we’ve raised a new $14 million investment, as part of our $24m Series A funding 🎉 Our biggest round to date!
The money allows us to keep growing and delivering the products you want. Starting with US stocks, crypto, and an exclusive spending card 💳 pic.twitter.com/enm8Ka20Ic
— Plum (@withplum) October 15, 2021
Plum is a digital savings and investment platform that currently reports around one million users. Plum offers wealth management features while connecting accounts and cards into a single app. Stock trading is said to be in beta this month with crypto around the corner predicted for Q1 of 2022. An in-house debit card is expected to be launched soon. Beyond the UK, Plum operates in three other EU markets including France, Ireland, and Spain. The company says it will be operational in the rest of Europe by the end of 2022. Plum is taking advantage of a shift in the Fintech sector to create Super Apps offering a portfolio of financial services on a single platform.
The equity offering is expected to close in less than two weeks.
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