Legal disclaimer
This document has been prepared by Plum Fintech Limited (the “Company”) exclusively for your personal use only.
Your capital is at risk when you invest, especially when investing in startups and early stage businesses.
The historical financial information contained herein is based solely on management reports and has not been audited. The Company does not
make any representations as to any trends or activities continuing in the future.
This document does not purport to be exhaustive or to contain all the information relating to the company that a prospective purchaser may
require before participating in a transaction. The company does not make any representations or warranties, whether express or implied, and
accepts no responsibility as to the accuracy, completeness or reasonableness of the information contained herein. Any prospective purchaser
that is interested in participating in a transaction is recommended to seek and obtain independent advice from its own financial, tax and legal
advisors.
This document contains statements and projections with respect to the anticipated future performance of the Company and its subsidiaries.
These forward-looking statements reflect the Company’s current expectations and projections, and necessarily involve a number of risks,
uncertainties and assumptions. Such statements and projections reflect various assumptions made by the management of the Company
concerning anticipated results, and are subject to amendments at any time without any prior notice. Past performance is not a reliable guide to
future performance.
This document does not purport to summarize all of the conditions, risks and other attributes of an investment in the company. Investment in
the company entails a high degree of risk and is suitable only for sophisticated investors and requires the financial ability and willingness to
accept the high risks and lack of liquidity inherent in an investment in the company. Investors in the company must be prepared to bear such
risks for an extended period of time.
This document is strictly confidential and may not be communicated to any third party or copied in whole or in part, without the prior written
consent of the Company. The reader of this document hereby undertakes to keep all information, documents and knowledge of whatever kind
obtained by them of the Company and its subsidiaries through this document secret and confidential.
Strictly Confidential
2
Plum is the ultimate savings and investment app that aims to
effortlessly grow people’s wealth through automation, driven by
the unique financial profile of the customer via Open Banking.
We are built to improve financial outcomes for everyone by helping
customers save, invest and spend smarter.
We are building Plum for the masses – those that don’t want to
manage their money every day for the next 40 years!
Strictly Confidential
3
Our measure of success: people will
have 20% more money with Plum
Connect your bank account to Plum
Save continuously
Invest continuously
Save more than you ever
thought you could via
automation and by reducing
bills & expenses
Investing continuously in all
asset classes (Stocks, funds and
crypto), riding the wave
through dollar-cost averaging.
We are giving 25-45 year olds the control and automation they
need to self-manage their money with as little effort as possible.
Strictly Confidential
4
Solving savings
Problem
Auto-saving
Bill reduction
Tailored budgeting
People aren’t saving enough to
consider themselves financially
secure
Solution
● Automated and rule-based
savings algorithms to help
set aside the optimal amount
● Best-in-class interest bearing
products
● Native in-app switching tool
and cash back to cut major
expenses
● Dedicated card to never
overspend again (Q4-21)
Strictly Confidential
5
Solving money growth (investing)
Problem
Auto-investing
Pension management
Stocks/Crypto
Low interest rates + high inflation
make savings accounts
loss-making
Solution
● Automated allocation to a
broad set of asset classes
● Investment funds under ISA
tax wrapper (live for 2 years)
● Pension consolidation under
SIPP tax wrapper (live)
● Commission–free and
fractional stock trading
(Q4-21) and crypto (Q1-22)
Strictly Confidential
6
Unique in the market
Key differentiators
Relationship Play
Plum
Product Play
(Money growth)
Revolut
(Transactional)
Moneybox
Freetrade
✓
✓
✓
✓
✓
✓
✗
✗
✗
✗
✓(US Only)
✓
✗
✗
✗
✓
✓
✓
✗
✗
✗
✗
✗
✗
ETFs only
Insurance
✓
✓
✓ (Q4-21)
✓ (Q1-22)
✓
✓
✓
✗
Payback
Access to primary account
data
✓
Maybe
Maybe
✗
Platform approach with solid
ARPU expansion leads to
best-in-class payback
Card proposition
✓ (Q4-21)
✓
✓
✓
✗
✓
✗
✗
UK, EU
UK
UK going to EU
Acquisition
Broad and non-competitive
appeal – everyone wants to
save money
Low switching cost
Plum connects to current
account but doesn’t replace it.
Easy customer onboarding
and money movement –
enabled by Open Banking.
Strictly Confidential
*Launching soon
Savings Automation
Direct integration with
savings banks
Long term money growth
via mutual funds
ISA & Pension (SIPP)
Stock trading
Crypto
Loan panel
Credit card panel
Utility bill switching
Cashback
Geographic coverage
UK, FR, SP, IR
(IT, PT, NE, BE, FIN)*
(Wealth)
(Trading)
✓
✓
✗
✗
✗
✗
✗
7
Market dynamics
An inflection point in consumer finance
Savings accounts no
longer give returns
0
%
Bank interest rates
Avg retail interest rates in the EU
fall between -0.2% and 0.8%,
well below inflation rates.
Strictly Confidential
Retail investing is
growing
19.5
%
Millennials care where
their money goes
61
%
US equity trading volume
driven by individuals
of millennials want to direct
their own investments
In comparison to 9.8% in 2010.
In comparison to 25% of
Gen-Xers and Baby Boomers.
Huge incoming
wealth transfer
$24
tn
of wealth to be transferred
to millennials
The largest in history. Expected
as result of inheritance, income
growth and entrepreneurialism
Sources: UBS – “Millennials – the global guardians of capital (2017)”; Accenture – Millennials and Money (2020); WSJ via Bloomberg Intelligence (2021); Raisin (2021)
9
The revenue opportunity
$596
bn
$15
UK retail wealth
management
market
$101
bn
EU retail wealth management
market revenue
Strictly Confidential
$116
bn
bn
insurance and
lending
opportunity
($374 billion EU – retail deposits,
mortgages and consumer finance +
122bn Insurance Brokerage)
Wealth
opportunity
Sources: McKinsey Global Banking Annual Review 2020; Global Insurance Brokers & Agents Market Report 2021; Global Digital Payment Market Report 2021; Retail Banking Market Size & Share 2025
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Comparables
Company
Latest pre-money
valuation (£m)
Date
Customers (k)*
Revenue
Moneybox
£113m
Jun-20
450k
£1.6m, FY19A
Chip
£80.0m (valuation cap)
Sep-20
250k
£0.2m, 2020E
Curve
£592m
Jan-21
2,200k
£8.0m, FY20A
Emma
£34m
Jun-21
600k
£0.3m, FY20A
Freetrade
£221m
Mar-21
600k
£12.5m, Dec-20 run rate
Trade Republic
£3,128m
May-21
1000k
n.a.
Revolut
£23,892m
Jul-21
16,000k
£222.1m, FY20A
Monzo
£1,240m
Jun-20
4,800k
£66m, FY20A
N26
£2,523m
Feb-21
7,000k
£87.7m, FY19A
Vivid Money
£311m
Apr–21
100k
n.a.
Lunar
£724m
Jul-21
325k
n.a.
Strictly Confidential
Sources: Company info, TechCrunch, Crunchbase, CNBC
*Most recent figure known at time of respective fundraises
11
Growth across the board
User growth
8,356
Today
4,456
CAGR of 105%
139
Strictly Confidential
377
CAGR: Compound Annual Growth Rate
1,670
765
13
Revenue growth
Today
CAGR of 417%
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14
Amount saved to date
Today
1%
6
2
f
o
R
CAG
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Converted from GBP into USD at a Sep-21 average FX rate of 1.3747 (USD/GBP from OFX)
15
Diverse user base
Building for a mass-market mindset towards money
This mindset is across
multiple income levels,
making the
addressable market
enormous.
Plum’s user base as at Sep-21:
The mainstream
customer does not want
to manage their money
daily.
Gender
They want the hassle
automated away.
Annual gross income
Strictly Confidential
Age
17
It’s solving their money problems
“Since I’ve got Plum in November
2018, my lifetime deposit reached
nearly £7k and I don’t really know
how it did it. It just feels amazing.”
— Harriet, 27
4.7
52,900+ reviews
“It’s everyone’s worst nightmare
getting made redundant and
having no money. It was such a
relief to have that money for me to
use.”
— Maya
“I love the fact that Plum gives me
daily notifications telling how
much money I’ve got in my
accounts!.”
“It gives me different opportunities
and flexibility with money that, if I
was using my bank account, I
wouldn’t have.”
— Karina, 28
— Mary, 36
Read more customer case studies here
Strictly Confidential
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Investment opportunity
Clear plan multiply our existing business by 4x
1
2
Expanding investment
offering
Further expansion
into Europe
Enabling stock and crypto trading to a vast and
engaged based of users – products with a
(1) (2)
combined ARPU potential of +£30
By mid 2022, Europe is expected to overtake the
UK in terms of new user acquisition, opening up a
revenue opportunity that’s 8x larger than the UK
Strictly Confidential
(1)
(2)
Stocks – Assuming £300 of monthly trading volume of which 60% is USD-denominated stocks + charging £1/trade for 10% of trades
Crypto – Assuming £100 of monthly trading volume, expected net take rate of 1.4%
20
Looking to double monetization in the next year
Today’s
ARPU
2X
Next year’s
ARPU
● ARPU expansion driven by the launch of new products, and higher subscription rates in parallel
● We’re most excited about stocks & crypto, with +60% of our users already investing or wanting to start investing
● As result, payback periods will reduce which will in turn allow Plum to further accelerate marketing spend
Strictly Confidential
ARPU: Average Revenue Per User
21
Quickly ramping up coverage in Europe
Expansion timeline
H1-21
FR
IR
ES
448m
people
H1-22
Strictly Confidential
IT
NL
PT
FL
DE
AU
BE
H2-22
Sources: Eurostat, OECD, Credit Suisse
Plum is already covering 26.6% of
the EU population (119m people),
and planning to cover 70.6% by the
end of 2022 (316m people)
22
We're growing 6x faster in the EU
Growing fast: In just 3 months,
we have achieved what took us
19 months in the UK.
Competitive Landscape:
Unchallenged as the only
holistic wealth management
platform that uses Open
Banking to optimise and
automate people’s savings
and investments
Strictly Confidential
Number of months since launch to yearly run rate of 100k new users
16 month di
fference
23
Clear path to +£100m in revenues
Strictly Confidential
Revenue run rate is calculated by multiplying December gross revenue with a factor of twelve, in each respective calendar year
24
Unique team with a strong track record
Victor Founder & CEO
Paulo Head of Marketing
Jess Product Manager – Growth
Employee #5 at TransferWise London. Head of
International Expansion, launching them in over
25 markets.
Former Head of performance marketing at Uber
Latam, and then for Revolut globally.
Former CEO and founder of YC-backed startup
with millions of users – founded and exited
within 3 years. Previously Senior PM at Accenture.
Mathieu Head of Strategic Finance
Kish Head of Design
Charlie Head of Partnerships
Previously part of fundraising team at
Checkout.com, helped raise $380m. Held roles
at Rothschild and Rocket Internet
First designer at TransferWise, lead design in
multiple product areas. Successfully built the
Plum app, now at a 4.7/5 rating.
Previous head of marketplaces & partnerships at
ClearScore (12m users), also launching their 1st
international market, South Africa.
Product Leads
Engineering Leads
Other Key Leads
Elise
Djordje
Catarina
Peter
Andreas
Aggregation
Wealth
Mobile Lead
Head of Compliance
Head of Brand
Lefteris
Pol
Kostis
Eugenio (PhD)
Rish
Savings
Subscriptions
Backend Lead
Data Science Lead
Operations lead
+90 employees of which more than 40% are focused on product development and engineering
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25
2022 & Beyond
End Game
Plum
Saving
Continuously building
up the balance sheet for
future lending activities
Investing
Access to all asset
classes across UK/EU in
a frictionless way
Lost Money
(Recommendations)
Access to primary account data.
We’re bank agnostic, connecting
to multiple accounts/credit cards
Debit Card
The go-to impartial
advisor for all your
major costs
Focused on saving
money vs. spending via
embedded budgeting
and cash back
Round details
Backed by seasoned long-term
institutional investors:
Crowdcube investors will be investing at the same share price
as our latest Series A investors that have recently backed us
this month.
Pre-money valuation:
(1)
£90m
EBRD
(2)
Share price:
£24.64
Increasing our pre-money valuation by 3x since our last round
(3)
in June 2020
Strictly Confidential
(1)
Series A latest pre-money valuation
(2)
Series A latest share price, calculated by dividing the pre-money valuation by the number of
fully-diluted shares (incl. shares expected to be issued as part of CLN conversion)
(3)
Based on Plum Fintech’s latest pre-money valuation of £30m, set in the most recent bona fide equity
financing round in June 2020
27
More and more people are trusting Plum to
optimise their income and grow their wealth.
We’re on our way to being the
best place to do this.
Join us on our mission.
withplum.com