The Spanish banking giant announced on Monday that BBVA completed the first debt financing deal in the United Kingdom, as it was awarded facilities worth 15 million pounds to implement the British Personal Finance Plum.
Funding is expected to support PLUM expansion plans and the ongoing efforts to expand its business, especially because it grows the base of users throughout the United Kingdom and Europe.
It serves London -based Fintech, which uses artificial intelligence to help users manage savings and investments, now serve more than two million customers and have helped allocate more than 5 billion pounds in savings. Its revenues grew more than four times last year.
The deal is said to reflect BBVA’s growing commitment to the UK’s ecosystem, which is mentioned by one of the most active centers in Europe for investment and innovation.
“We are happy to secure this new funding from BBVA,” said Victor Trocodes, CEO of Blum Company and its founder. “We have bold plans for 2025, and this will help us in delivery“
BBVA said the agreement was a milestone in the investment debt strategy, which aims to support high -growth technology companies in various stages of development.
The bank was increasingly active in Fintech financing, and recently indicated plans to deepen its presence in the European technology markets.
The deal represents a “major landmark” as the bank deepens its role in the ecosystems in the United Kingdom. “We are proud to support Bloom’s expansion in Europe and to be part of the exciting growth story.”
PLUM plans to enhance its AI’s financial tools, including ETFS and tax -exempt savings, and accelerate their scope in the European market.