Plum appoints new Product VP as it prepares to launch new US stocks offering

Plum, Europe’s ultimate money management app, has appointed Phu Ly as Product VP, as the business embarks on an exciting year of growth following a recent $24 million Series A funding round.

Ly has led product teams at high growth, digital-first consumer brands such as Monzo and Deliveroo and will be tasked with spearheading Plum’s growing product offering.

Plum recently completed a $24 million Series A funding round that will accelerate the company’s expansion into Europe and support new product launches in 2022.

The business is planning to launch a US stock investing product in Q1 of this year and will introduce EU and UK stocks, and crypto assets, later in 2022.

A payments card to help customers manage their everyday spending and budgeting is also in development.

Meanwhile, Plum has been granted regulatory approval to offer investments in the EU and is planning to expand its customer base with launches in the Netherlands, Portugal, Belgium, Italy, Finland, Austria and Germany. Plum is on track to reach 2 million customers across Europe by the end of 2022.

Victor Trokoudes, CEO & co-founder of Plum comments: “Ly is a senior product strategist with an impressive track record of helping leading consumer brands improve their customer offering. We are delighted to have him on board as we prepare for an exciting year of growth.

“Ly will lead the roll out of our new US stocks offering and oversee the development of other new investment and money-management products later in 2022.

“In expanding the range of services we offer to customers, we want to make it as easy as possible for them to manage their money. Our mission is to ensure people have all the right tools to save, spend and invest better for the long-term.”

Phu Ly, VP Product at Plum comments: “Plum is one of the fastest-growing and most dynamic consumer finance apps in the market, and I am very excited to be joining the business at this important juncture.

“Plum’s automated, algorithmic savings model has been the foundation of its success and has helped millions of people to take control of their finances. I look forward to helping the team enhance what is already a fantastic proposition and enabling more people to secure their long-term financial future and improve their financial well-being.”