Plum Fintech overview

Plum is a personal savings AI assistant linked to current accounts. It analyses a user's incomings and outgoings, including bills, and automatically sets small amounts of money aside that is safe to save without affecting normal spend. Users can also send via various savings rules, such as Round-Ups, a PayDay saver, and regular saving intervals. It also provides insights on spending, offers investment opportunities, and finds deals on utilities.

Plum monitors a users current account, using AI to deem what each user can afford to save based on bank transactions and the end-of-month leftover amount. It saves money each month through regular saving or rounding-up transactions. The money saved can be put in an ISA investment account and invested in themed companies (such as technology or 'ethical companies'), in savings, or split across both. Plum also offers more novelty savings challenges such as the Rainy Day Rule, which saves money whenever it rains.

In November 2019 Plum raised $3m an additional funding (to the $4.5m it raised earlier in the year), which it planned to use for for expansion and growing the team. In the same month it launched an app for Android, adding to its iOS app and Facebook chatbot.

In October 2021 Plum raised $14m in Series A funding from investors, following receiving regulatory approval to

In November 2021 Plum secured a further $8m via Crowdcube from 9.7k investors, helping to triple its company valuation since July 2020. The fresh funds will be used to further expand across Europe (it is already available in France, Ireland and Spain), with company focusing on the Netherlands, Portugal, Belgium, Italy, Finland, Austria and Germany in 2022. The company will also launch new products, with a new US stock investing product due to launch in December, and EU/UK stocks and crypto assets following in the new year. The company also revealed that it had doubled its users to around 1m in one year, and that AUM had tripled in the past year. 

Map showing the location of Plum Fintech

London, United Kingdom

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