Plum secures £15 million in venture debt from BBVA
Summary
Smart money app Plum has secured \xa315m in debt financing from global financial group BBVA, following a transformational year of delivery.In the last year, Plum successfully launched key products across Europe, like ETFs in the EU and Cash ISAs in the UK, while accelerating its acquisition and building new AI capabilities to maximise on the potential of the technology for its customers. This roadmap includes refining the existing offering to optimise the customer experience, exciting new product launches, and positioning Plum for significant scaling in Europe with end-to-end app enhancements and marketing investment. 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. The deal reflects BBVAs growing commitment to the UK as a key lender in Europes leading hub for entrepreneurship and venture capital. Victor and his team have a clear vision for 2025 and beyond that I believe they will sharply execute successfully, said Donatella Callegaris, BBVAs Head of Venture & Growth Lending in Europe.