The smart money app, Plum, has partnered with Eurobank this week to accelerate its expansion in Greece, where it aims to serve 700,000 customers by 2027. Eurobank will invest €10m in the smart money app, which provides automated deposits and accessible investments to users in the UK and ten European markets. Greece is next in line.
Plum partners with Eurobank as it eyes Greek expansion
Plum CEO Victor Trokoudes expressed enthusiasm over the strategic partnership with Eurobank and the company’s excitement to supercharge its rollout in Greece. Customers in the region will now be able to access Plum’s fully digital wallet and tap into a range of class-leading financial services.
Trokoudes added:
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.
Plum has already registered itself in the UK market and built a total active user base of 1.8 million. It has also delivered healthy growth; revenue has doubled during the last twelve months, and it’s now on the path to profitability. Plum hopes to end its loss-making by early 2025.
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Troukoudes was eager to tout the app’s artificial intelligence (AI) and automation capabilities. He noted that AI will enable customers to navigate growing “cost of living challenges” during the next few months. Plum is also planning to launch several new product types in early 2024. The UK market will see Cash ISA and Lifetime ISA products for the first time, while other European countries will also get new services.
