Plum nabs $500,000 for savings chatbot

Facebook Messenger-based chatbot Plum has raised $500,000 in a seed round of funding led by 500 Startups’ microfund.

The round also saw angel investors including well-known London tech entrepreneurs participate.

Plum is designed to analyse a user’s current account and help them save money by transferring small amounts every few days into their Plum savings account.

The company utilises Facebook Messenger to send users updates and allow them to interact with the service.

Developed by early TransferWise and Tictail employees Victor Trokoudes and Alex Michael Plum is currently running a few hundred trials in a private beta with plans for invite-only launch at the end of October.

Co-founder Trokoudes said, “Ultimately, our aim is to enable every person in the UK to put money aside, whether that’s just enough for a rainy day, or for something substantial like a house deposit.”

Copyright © 2016 FINTECH GLOBAL