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December 4, 2023

Unleashing Financial Empowerment: Plum's Dynamic Venture with Eurobank

AI has emerged as the guiding force, setting a revolutionary standard for how we manage our personal finances

In the ever-evolving landscape of personal finance, Artificial Intelligence (AI) is taking center stage, revolutionizing how we manage our money. London-based Plum, a trailblazer in the realm of smart money apps, is spearheading this transformation. Recently joining forces with Eurobank, a prominent Greek financial institution, Plum is on a mission to redefine digital savings and investments with a fully digital wallet.

Plum's strategic alliance with Eurobank isn't just a collaboration; it's a bold step towards reshaping the financial experience for customers in Greece and beyond. With Eurobank's €10 million minority equity investment, Plum is gearing up to launch a digital wallet designed for the modern age—intelligent, seamless, and user-centric.

Eurobank's commitment is evident, with an initial €5 million investment completed in November and an anticipated second close of €15 million in Q1 2024. This infusion of capital, coupled with contributions from institutional investors, underscores the confidence in Plum's vision.

Victor Trokoudes, Plum's CEO and Founder, envisions this partnership as a monumental milestone, propelling Plum's growth across the EU. The collaboration extends beyond investment, with Eurobank becoming a strategic partner, adding intrinsic value to the venture.

Trokoudes highlights the potential impact on the Greek market, saying, "I’m looking forward to partnering with [Eurobank] to help us secure a large market share in Greece and Europe more generally.”

Plum's journey has been nothing short of remarkable, amassing over 1.8 million users and achieving a staggering 100% revenue surge in the past year. The alliance with Eurobank aims to fast-track Plum's path to profitability, setting an ambitious target for early 2025.

In the UK, Plum's stronghold expands with innovative product launches like the Money Market Funds product ("Plum Interest"). The upcoming year promises new additions, including Cash ISA and Lifetime ISA, enriching the suite of tax wrappers and ETFs across Europe.

Operating in 10 European markets, Plum isn't just a fintech success story; it's a solution to financial challenges faced by individuals. Victor Trokoudes underscores Plum's commitment to aiding those navigating the complexities of living costs, showcasing the app's unique design tailored for automation and AI-driven financial resilience.

As Plum charts its course with Eurobank, it not only cements its status as a FinTech powerhouse but also reinforces the narrative that the future of finance is intelligent, inclusive, and seamlessly integrated into our digital lives.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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