Plum and Eurobank Join Forces for Fintech Expansion in Greece

Today, the fintech firm Plum announced a groundbreaking strategic partnership with Eurobank, a prominent Greek financial institution. The collaboration aims to introduce a fully digital wallet to customers in Greece and neighboring markets, emphasizing digital savings and investments.

The partnership is a strategic move for Plum to expedite its expansion in Greece, with an ambitious target of reaching 700,000 active customers by the end of 2027. Furthermore, This alliance signifies the adaptability essential for large banks to connect with a younger, more diverse, and demanding demographic.

Eurobank is providing a strategic partnership and making a minority equity investment of €10 million in Plum. The initial €5 million investment occurred in November, with a second tranche of €5 million scheduled alongside additional investments from institutional partners in the first quarter of 2024, totaling €15 million.

Eurobank & Plum Partnership

Victor Trokoudes, CEO and Founder of Plum expressed his enthusiasm about the collaboration, stating, “This is a huge milestone for Plum, giving us the opportunity to turbocharge our growth in the EU following our success in the UK. The digital trends are promising, and there is a clear gap for an app like Plum to help Greek consumers manage their money.”

Plum, positioned as a major player in the financial technology sector, will leverage the partnership to reach profitability by early 2025. Having already onboarded over 1.8 million users and doubled its revenue in the past year, Plum plays a pivotal role in its journey towards financial success

Plum, known for its presence in the UK, has recently expanded its product offerings, including the successful launch of “Plum Interest,” a Money Market Funds product. The company plans to introduce new product types, such as Cash ISA and Lifetime ISA, in the UK while simultaneously extending its services to 10 European markets.

Victor Trokoudes emphasized Plum’s commitment to addressing financial challenges, stating, “Many people continue to struggle with cost of living challenges and need help to build their financial resilience. Moreover, Plum designed its app uniquely to address this through automation and AI. Now, we want to push further, winning in the European market with the support of Eurobank. We look forward to seeing the impact of this unique partnership.”

As Plum continues to evolve and diversify its offerings, the Eurobank partnership positions the fintech company as a critical provider of investment, savings, and budgeting solutions across south-eastern Europe.

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