<p>Plum Fintech Limited, trading as Plum, has expanded its footprint in Europe by launching services in five countries: Italy, Portugal, the Netherlands, Greece, and Cyprus. The platform is already available in the United Kingdom, France, Spain, Ireland, and Belgium.</p><p>Plum Expands Geographical Footprint</p><p>The <a href="https://www.financemagnates.com/terms/f/fintech/" class="terms__main-term" id="891edcf3-475e-45f3-a8b8-3ba2e7d37339" target="_blank">fintech</a> platform offers <a href="https://www.financemagnates.com/fintech/education-centre/what-is-fintech-and-how-does-it-work/" target="_blank" rel="follow">money management services</a>, allowing retail clients to set aside monthly savings automatically. In addition, it allows customers to invest in stocks with up to 3,000 US stocks commission-free in the offering and provides a VISA debit card.</p><p>According to the company, it has 1.5 million customers across Europe and handled more than €1.79 billion in customer funds. With the expansion, the company now aims to further strengthen its position in the European market.</p><p>“We’re delighted to bring Plum to five new European countries and help people manage their finances there,” said the Co-Founder and CEO of Plum, Victor Trokoudes. “This is a challenging economic period as people are experiencing levels of inflation not seen in decades, leading to cost of living challenges. The need for long-term financial resilience has arguably never been clearer, and we created Plum precisely to help people tackle this.”</p><p>Check out the latest FMLS22 session on "Social Impact & Innovation in Fintech."</p><p>Plum Is Licensed in the UK and Europe</p><p>Founded in 2016, the company is headquartered in London and operates from its offices in Greece ad Cyprus. In the UK, it offers services with an electronic money institution (EMI) license from the <a href="https://www.financemagnates.com/terms/f/financial-conduct-authority-fca/" class="terms__secondary-term" id="4c85a54d-15e0-4e44-a214-8c55f71cb286" target="_blank">Financial Conduct Authority (FCA</a>). At the same time, European operations are conducted with a license from the <a href="https://www.financemagnates.com/institutional-forex/cysec-warns-against-impersonating-officers-fake-websites/" target="_blank" rel="follow">Cyprus Securities and Exchange Commission (CySEC)</a>. Moreover, the Cypriot entity of Plum is operating as an intermediary of electronic money on behalf of UAB Payrnet with the Bank of Lithuania.</p><p>Last November, the company <a href="https://www.financemagnates.com/cryptocurrency/plum-works-with-bitpanda-offers-crypto-investing-in-the-eu/" target="_blank" rel="follow">partnered with Bitpanda</a> to roll out crypto investment services through its app. However, those services are only available to customers in Europe, not the United Kingdom.</p><p>“Being present in 10 markets overall demonstrates we truly are a European company,” Trokoudes added. “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.”</p>
This article was written by Arnab Shome at www.financemagnates.com.
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