Smart money app Plum has announced the launch of its third crowdfunding round.

The move comes after the FinTech recently secured £5 million in debt financing from Silicon Valley Bank UK.

The company’s last crowdfunding round took place a year ago and since then it has launched commission-free investing, expanded into new European markets, and introduced a new debit card.

Last week the business announced a new partnership with Bitpanda to make crypto investing available to its European customer base.

In the past 12-months Plum has seen its customer base grow by nearly 50 per cent 1.4 million users.

Funding will be used to speed up its European expansion and refine its existing products, said Plum
“I want to say thank you to all our 11,000 investors and 1.4 million customers, whose support has been critical to our standout record of delivery in the past year,” said Victor Trokoudes, chief executive and co-founder of Plum We’ve worked hard for them, delivering on every major promise we made at our previous crowdfunding round, whether introducing commission-free investing and a debit card, expanding into new European markets and launching crypto trading."

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