• FOUNDING YEAR: 2016
    LOCATION:
    United Kingdom
    REGION:
    England England
    Last Update:
    18 Oct, 2019

Description

FOCUS

PRODUCTS & SERVICES:
AI powered personal savings assistant. Plum's AI is a Facebook Messenger chatbot that allows its customers to save small amounts of money; the chatbot connects with a user’s bank account and identifies their spending habits following with customized messaging on savings deposits. Plum: It monitors the daily spending and automatically sets money aside that the user won't need.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Banks
EXISTING PARTNERSHIPS:
Plum is only available in the UK and currently works with NatWest, RBS, Santander, HSBC, Lloyds, Barclays, Metro Bank, First Direct, Halifax, Citibank, Nationwide, TSB, Bank of Scotland and the Co-Operative Bank. Recently, it partnered with RateSetter, a peer-to-peer lender in the UK which offers interest on savings to users.
COMMENT
Plum is billed as the first AI-powered Facebook chatbot that enables users to start saving small amounts of money effortlessly. It also allows users to earn 3% on their savings. Users can invest savings at RateSetter and will earn interest on a monthly basis.

PEOPLE

FOUNDERS:
Victor Trokoudes, Alex Michael.
NUMBER OF EMPLOYEES:
1-10
INVESTORS:
500 Startups, Demetrios Zoppos, Eldar Tuvey, Roy Tuvey, Seedrs
KEY EMPLOYEES:
Victor Trokoudes (CEO), Alex Michael (CTO)

TRACTION

Insufficient information for accurate analysis

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$2.5 Millions
DATE OF LAST FUNDING:
Jun 2018
TOTAL FUNDING COMMENT:
The company is planning use the fund to continue the expansion of its products innovation. (June 2018)
SEED & PRIOR FUNDING:
$500 K
SEED CLOSED ON:
Oct 2016
CROWDFUNDING:
$2 Millions
LISTED:
NO

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