A follow-on investment in Plum, an existing portfolio company of the EBRD. Investment completed in June 2020.
Plum is a mobile application and an AI assistant that helps users save money. Plum connects users' bank accounts, analyses historical spending data, identifies areas of potential savings via bill switching, and automatically saves money on users' behalf on a regular basis. Users have the option to invest this saved money via Plum's investment tool.
ETI score: 80
The VCIP II Facility is expected to contribute to the Competitive and Resilient transition qualities as it will support the development of recently established highly innovative technology-based companies, as well as promote better access to venture capital which is still nascent in the EBRD regions.
PLUM FINTECH LIMITED
EBRD Finance Summary
Current transaction is GBP 2,000,000
Under VCIP, additionality stems from the Bank's ability to bring extensive regional private equity experience and experience of the region, networks and relationships to support the VCIP Qualified Co-Investors in their investments in investee companies.
PSD last updated
17 Mar 2021
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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