Plum Secures £15 Million to Support European Expansion and AI Roadmap

Plum has secured £15 million in debt financing from BBVA to fuel its European growth and product development efforts. The deal marks the global financial group’s first venture financing transaction in the UK and reflects BBVA’s increased strategic interest in the region’s fintech sector.

The funding follows a year of rapid expansion and product delivery for Plum, including the launch of exchange-traded funds in the EU and Cash ISAs in the UK. The company also accelerated its acquisition strategy and developed new artificial intelligence tools to improve financial decision-making for users.

“Many people are struggling with the cost of living”

Victor Trokoudes, CEO and founder of Plum, commented, “We’re excited to have secured this new financing from BBVA. We had ambitious plans in 2025, and this funding will help us to achieve them. While inflation is far nearer 2% than a couple of years ago, many people are struggling with the cost of living, and need help to build their financial resilience. But they don’t know where to start or find that financial products are too expensive and too complicated.”

“Plum is changing this, having already made money management easier for over 2 million people through automation and AI. We’re developing new ways to harness the incomparable potential of AI, and can’t wait to bring these new solutions to our customers. With this funding, we can push further with even stronger features, winning in the European market with our standout proposition.”

The fintech now serves over 2 million users and has helped set aside more than £5 billion in savings. Plum’s revenue has grown more than fourfold over the past three years, and the firm is targeting operational profitability in 2025.

The venture debt facility will support Plum’s strategic roadmap, which includes refining its current product suite, launching new features, and scaling its app across Europe. The company plans to enhance customer experience through end-to-end improvements and increase investment in marketing.

Donatella Callegaris, BBVA’s Head of Venture & Growth Lending in Europe, 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 sharply 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.”

BBVA’s investment in Plum follows its recent strategic expansion in Europe, including the establishment of a new venture lending team in London. The bank has committed nearly €600 million in credit across markets such as Spain, Mexico, Colombia, and Argentina, supporting over 1,500 startups and scale-ups.

Plum’s backers also include Eurobank, dmg ventures, Global Brain, and Venture Friends. The latest funding round strengthens the fintech’s ability to compete in the crowded personal finance and wealth management sector, particularly as AI-driven services reshape user expectations in digital banking.