Exclusive: Retail investment app Plum opening Cyprus office
FNG Exclusive… FNG has learned that AI-driven retail savings and investment app Plum is opening a new office in Nicosia, Cyprus. Plum, which currently has offices in London and Athens, is actively recruiting financial technology specialists and is looking to have about 20 people based in Cyprus in the coming months.
The team in Cyprus will be mainly focusing on Plum’s Investment product, with the company looking to recruit backend engineers and operational brokerage specialists.
Plum’s founder and CEO Victor Trokoudes is a Cypriot native, as is the company’s London based Head of Brand Andreas Kapsos, whom we reported joined Plum earlier this year from Revolut.
FNG spoke with Plum CEO Victor Trokoudes, who said:
“Europe is changing and creating opportunities for other member states to develop into competitive fintech centers, with Cyprus leading the way. Cyprus is known for its fast licensing mechanism as well as its business attitude. It also provides access to groups of young EU talent, with a high level of education, multilingual and mainly specialised in the field of technology.
This is the key to a company that wants to provide an innovative and alternative money management solution to its customers. At Plum, we have put technology at the heart of our services, with easy investments, instant alerts, improved analytics and automated savings. Thus, by investing in Cyprus, we are now actively contributing to the formation of the country’s FinTech scene.”
Plum is a London and Athens based fintech startup. Founded in 2016 by former TransferWise exec Victor Trokoudes, Plum has developed an AI-driven app which helps people to save and better manage their money. The company, which claims a community of more than one million users, recently closed a $10 million financing round led by Japan’s Global Brain and the European Bank for Reconstruction and Development, both of which were previous investors in the company.