Plum European Expansion
Challenger Banks Europe Trending

Plum Continues To Conquer Europe as It Announces Expansion Into Five New Markets

Plum customers in Italy, Portugal, the Netherlands, Greece and Cyprus can now automatically save, invest in commission-free stocks and control their budget with a recyclable debit card due to the smart money app’s expansion across the continent.

Plum is introducing its services to five new European countries as part of its continental expansion. As a result, the London-based personal finance app’s expansion has launched its services into the markets of Italy, Portugal, the Netherlands, Greece and Cyprus.

  • Money management

Personal finance is Plum’s bread and butter, and it offers a series of automated tools aimed at conquering financial management and financial inertia. In line with customer demand, the app’s services also include helping people to automatically set aside money regularly, according to their goals.

  • Wealth management

In addition, the app also supports services around wealth management. This capability is most pronounced in its stock investing service, where customers can buy and sell 3,000 US stocks on a commission-free basis. Investments through the app begin at €1 through fractional shares, with stocks from companies like Google, Meta and Amazon available.

  • Card offering

Plum’s physical debit card offering sees transactions processed by Visa, with the cards themselves being fully biodegradable and recyclable. As expected, this card offering allows customers to pay online or directly at the merchant’s point of sale. Likewise, the cards can be used to withdraw cash from any European ATM without incurring additional fees.

Expanding into new markets

Plum customers in the aforementioned markets can now connect their bank accounts to the app and engage with these services.

The reinforcing of the company’s presence across Europe sports a timely arrival. Evidently, money management has arguably never been more important.

Prices remain high in the euro area, with the inflation rate reaching 9.2 per cent in December 2022, meaning people are continuing to face the cost of living crisis.

The app seeks to simplify how people save, budget and invest. In this way, it has already helped 1.5 million customers across Europe accumulate savings in excess of €1.79billion.

A timely arrival
Plum European Expansion
Victor Trokoudes, co-founder and CEO, Plum

Victor Trokoudes, co-founder and CEO of Plum, reflects on the app’s expansion amid the economic crisis.

“This is a challenging economic period as people are experiencing levels of inflation not seen in decades, leading to cost of living challenges,” comments Trokoudes.

Above all, he recognises that the need for long-term financial resilience has “never been clearer,” confirming this to be the reason behind the app’s creation. According to Trokoudes, Plum is “helping ensure that your money management is automated and wealth looked after for the future.”

“Being present in 10 markets overall demonstrates we truly are a European company,” continues Trokoudes, with the company retaining its commitment to “empowering people with a complete money toolkit, helping them nurture their financial wellbeing today and for the long run, giving motivation to their money.”

“The intelligence of our app means we can offer a smart alternative to traditional tools and help people make their money go further in multiple ways. We’re excited to be helping people to save money, invest in stock markets and manage their spending, through one single app, and at a lower cost,” he concludes.

The launch marks the next step in Plum’s European expansion, having successfully launched in the UK, France, Spain, Ireland and Belgium. As a result, Plum is now present in 10 European countries overall.

Author

  • Tyler is a fintech journalist with specific interests in online banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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