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The Secondary Market is now open!
Every month, we do a deep dive on three startups making strides in their industries, so you can keep a close eye on some of the promising young businesses that have secured partnerships, acquired customers and released new innovations.
Keep reading to get the details on our top three trades this month.
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Founded by Victor Trokoudes, one of the first 5 employees of Transferwise, Plum is a personal money assistant, which leverages AI and open banking technology to help its users manage their money. To help you save, Plum analyses your transactional history to save money for you automatically. It also tracks your bills so make sure you always have access to cheaper and better alternatives on utilities, loans, credit cards, mortgages and more. Now, after raising €8.7 million in a funding round led by Japan’s Global Brain and the European Bank for Reconstruction and Development, the fintech is making its move into the Spanish market.
While it started as a chatbot for savings, Plum was also quick to launch an investment platform with 8 carefully selected mutual funds, which based on a selection of themes, can help your money work for you, while representing your core values. Just this year, Plum announced further expansion of its ESG offering, with the addition of two new ethical funds. The fintech will also be rolling out its first pension product, Plum SIPP as well as single stocks and crypto assets by the end of this year. The offering is growing in popularity – Plum expects to have more than 250,000 users on its investment platform by the end of 2021.
Plum has raised over £4.3M on Seedrs, and limited sharelots are now available on the Secondary Market starting at £10.51, at an indicative valuation of £29.9M. View shares and updates here.
🗞️ Plum In the News
➤ UK-based Plum raises €8.7 million to expand its smart money app further across Europe – EU Startups
➤ Plum Adds Two New Ethical Funds to its ESG Offering – Fintech Times
➤ Plum lands in Spain: this is how the fintech that wants to save for you works – Business Insider
➤ Entrepreneurs: Meet the founder of fintech app Plum as start-up unveils new pensions offering – Evening Standard
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Tech platform Commuter Club brings together data, retailing and credit in order to save commuters time, money and hassle. That means finding the right ticket for their commute, and unlocking huge annual savings – think of it like Netflix for commuting. To date, the startup has raised over £6.7M on Seedrs, bringing on nearly 2,000 investors to help change the way we travel, for the better. By 2018, Commuter Club had grown its loan book by approximately £33M, generating just under £1.3M in revenue*. By 2019, the startup had gone on to expand its corporate solution to leading clients like Monzo, Pret a Manger and Hakkasan.
During the pandemic, Commuter Club worked diligently with their partner company Premium Credit to offer discounts on travel for key workers, which co-founder Irina Lovita hoped would help to “ease a little of the financial stress COVID-19 has been responsible for.” As the world returns to work, Commuter Club presents a valuable proposition for travellers across the country.
Commuter Club is live on the Secondary Market now, at an indicative valuation of £18.6M. There are limited sharelots available for purchase, starting at £3.00. View shares and updates here.
🗞️ Commuter Club In the News
➤ Startup of the Week: Commuter Club – Tech Round
➤ Coutts backs Commuter Club’s £2.2m crowdfunding round – AltFi
* Based on pro-forma unaudited management accounts.
Certified B Corp Oddbox has dominated the sustainability F&B scene in the UK recently, and for good reason. The startup is championing the fight against food waste by sourcing slightly imperfect, but just as delicious produce for a fair price directly from farms, and delivering them to customers at a significant discount than similar box services, while also donating surplus produce to charities that fight food poverty. In 2020, Oddbox expanded its operations to South Wales and southwest England, adding 700,000 households to its delivery radius. That, in combination with its partnership with delivery fleet solutions PodFather last year suggests strong promise for the company in optimising its rapid future expansion plans.
With over 2M boxes delivered since its launch just a few years ago, Oddbox has already saved nearly 14,000 tons of fruit and vegetables from going to waste (for context, that would feed 30,000 people for a whole year). This April, the startup announced that as it expands into the South West and Midlands, it intends to save 150,000 tonnes of perfectly adequate UK produce from going to waste by 2025.
Oddbox is live on the Secondary Market now, at an indicative valuation of £8.5M. There are limited sharelots available for purchase, starting at £60.47. View shares and updates here.
🗞️ Oddbox In the News
➤ Oddbox announces expansion plans as it pledges to reach net zero by 2030 – Business Green
➤ London-based veg box company expands in Wales and southwest England – Business Live
➤ Oddbox teams up with PodFather – Fruit Net
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