Plum, a personal finance and savings app that helps users automate their savings and investments, has secured £15m in venture debt financing from BBVA.
The funding marks BBVA’s first venture debt financing deal in the UK, highlighting its ambition to strengthen its presence in Europe. The investment was granted by BBVA’s Venture & Growth Lending division, led by Donatella Callegaris, and underscores the bank’s wider strategy to become a key lender to the UK’s entrepreneurial ecosystem.
Founded to help individuals better manage their money, Plum uses automation and artificial intelligence (AI) to assist users in saving, investing, and building financial resilience. The platform offers a range of tools, including ETFs, tax-free savings accounts, and personalised financial insights, and currently serves more than two million users.
The new funds will enable Plum to further expand its operations across Europe, improve its profitability, and enhance its customer offering. The company plans to sharpen its product range and continue developing its AI-driven data infrastructure, with a focus on delivering new financial education tools and personalised financial services.
Over the past year, Plum has introduced new services such as ETFs and tax-free savings accounts in the UK and expanded its European footprint. The firm has also seen rapid growth, helping customers set aside more than £5bn and increasing its revenue by over fourfold within a year.
BBVA’s Head of Venture & Growth Lending in Europe Donatella Callegaris said, “We are proud to support Plum’s expansion in Europe and be part of their exciting growth story. Victor and his team have a clear vision for 2025 and beyond that I believe they will execute successfully. This marks our first financing deal in the UK: a key milestone, both for the importance of the market and for the growth of our business across the continent.”
Plum CEO and founder Victor Trokoudes said, “We’re thrilled to secure this new financing from BBVA. We have bold plans for 2025, and this investment will help us deliver them. Inflation may be easing, but many people still face pressure from the cost of living and need tools to build financial resilience. Still, many people don’t know where to begin, or find financial products too costly and complex.”
Trokoudes added, “Plum is changing that. We’ve already helped more than two million users take control of their finances through automation and artificial intelligence. Now, we’re building new ways to unlock AI’s full potential for financial education, and we’re eager to bring these innovations to our users. With this funding, we can take another big step forward with more powerful features and a sharper value proposition that sets us apart in the European market.”
BBVA’s support for Plum follows its recent expansion efforts in markets including Argentina, Colombia, Spain and Mexico, where it has supported more than 1,500 clients and committed close to €600m in credit.
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