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Plum targets Greece with Eurobank backing

Plum targets Greece with Eurobank backing

UK-based smart money app Plum has secured a €10 million minority equity investment from Greece's Eurobank as part of a strategic partnership in the region.

Having established itself in the UK, Plum is now active in 10 European markets, with 1.8 million users.

The firm is now targeting Greece and south-eastern Europe by teaming up with Eurobank to offer a fully digital wallet focused on digital savings and investments, aiming for 700,000 active users there by the end of 2027.

Eurobank's investment comes in two tranches, with €5 million already provided and another €5 million coming as part of a €15 million funding round set for early next year.

Having doubled its revenue in the past year, Plum says the partnership and fundraise aims to bring the firm to profitability by early 2025.

Victor Trokoudes, CEO, Plum, says: "Many people are continuing to struggle with cost of living challenges, and need help to build their financial resilience. The Plum app is uniquely designed to address this through automation and AI. Now we want to push further, winning in the European market with the support of Eurobank."

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