Smart money management app, Plum, has formed a strategic partnership with Eurobank, a prominent Greek financial institution, to launch a fully digital wallet focused on digital savings and investments. The partnership aims to accelerate Plum’s growth in Greece and surrounding markets, with the goal of reaching 700,000 active customers in Greece by the end of 2027. Furthermore, this partnership includes a €10 million minority equity investment from Eurobank, with a second close of €15 million expected in Q1 2024, with other institutional investors joining Eurobank.
Plum’s CEO and Founder, Victor Trokoudes, expressed his enthusiasm about this partnership, “This is a huge milestone for Plum, giving us the opportunity to turbocharge our growth in the EU following our success in the UK. The digital trends are promising and there is a clear gap for an app like Plum to help Greek consumers with their money management. Eurobank is one of Europe’s standout financial institutions, and we’re excited about working with them.”
Plum is currently experiencing strong growth, with over 1.8 million users onboarded to date, and its revenue doubling in the past year. The company’s objective is to become profitable by early 2025 with this partnership and fundraise. Additionally, Plum already launched in ten European markets, and the Eurobank partnership aims to establish Plum as a prominent provider of investment, savings, and budgeting solutions to consumers across southeastern Europe.
Trokoudes remarked, “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.”