Launch year: 2017
Country: UK
Funds raised: $19.3 millions

Plum, save money automatically

Concept description

Plum is a user’s financial hub that goes beyond the first generation of personal finance manager apps and bank account aggregators. The app is connecting to your bank account and gain access to a range of functionalities, including savings, investments and analysis of your utility bills. The goal is to help you make better purchasing decisions. Plum’s AI also deems what you can afford to save by analysing your bank transactions. It then puts money away each month in the form of round-ups and/or regular savings. The customer support team is ready to help you, 7 days a week.

Value proposition

You get daily or weekly bank balance updates, to help you stay on track and avoid any unexpected surprises. In addition, Plum keeps an eye on your bills, calculate how much you could save if you switched. The solution will also let you know you if you’re being overcharged. In addition to the service providers comparisons, Plum is helping you to switch seamlessly in a few taps.

Every few days, Plum calculates and transfers the perfect amount into your Plum account. Whether you are setting money aside for a holiday, house or rainy day, Plum will help you reach your goals faster, without having to change your lifestyle. You can adjust how much Plum sets aside for you whenever you like. When you’ve reached your goals, or just need some extra cash, you can withdraw at any time, as often as you like.

Plum provides a range of simple, approachable investments from £1. Along with letting you invest at different risk levels, Plum’s investment tool provides theme-based investing: “Tech Giants”, “Clean & Green”, “Emerging Markets”, etc. You easily control how much you want to invest and your preferred theme funds, so you can leave Plum to it. You can deposit or withdraw as often as you like.

Illustration (Video)

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