Plum Raises $10M for Smart Money Management App and European Expansion

Plum announced a $10 million funding round on July 21, 2020, led by Global Brain and the European Bank for Reconstruction and Development (EBRD), with the UK Future Fund providing matching investment. The raise brought Plum's total funding to $19.3 million. Plum operates a smart money management app that uses AI-driven automation to help users save, invest, and build financial resilience.

The new capital was earmarked for European expansion, broadening the app's reach beyond its UK base. The involvement of EBRD signals institutional support for fintech solutions addressing financial inclusion and consumer financial health. The funding came during a period when COVID-19 heightened consumer interest in automated savings and money management tools, providing a tailwind for embedded finance products targeting everyday financial wellness.