European money management app Plum plans to launch a product for users to invest in US stocks in Q1 this year, adding EU and UK stocks, and crypto assets later in 2022.
The news comes following the completion of Plum’s $24 million Series A round in November 2021, aimed at accelerating the company’s expansion into Europe and new product launches (including a payments card) throughout the year.
Plum has tapped ex-Monzo and ex-Deliveroo product strategist Phu Ly as its new VP product to spearhead these product launches.
On the appointment, Victor Trokoudes, CEO & co-founder of Plum comments: “Ly is a senior product strategist with an impressive track record of helping leading consumer brands improve their customer offering. We are delighted to have him on board as we prepare for an exciting year of growth."
“Ly will lead the roll out of our new US stocks offering and oversee the development of other new investment and money-management products later in 2022."
On track to reach 2 million European users by the end of 2022, Plum is planning to expand its base through launches across the Netherlands, Portugal, Belgium, Italy, Finland, Austria, and Germany.
Phu Ly, VP product at Plum adds: “Plum is one of the fastest-growing and most dynamic consumer finance apps in the market […] Plum’s automated, algorithmic savings model has been the foundation of its success and has helped millions of people to take control of their finances. I look forward to helping the team enhance what is already a fantastic proposition and enabling more people to secure their long-term financial future and improve their financial well-being.”