Smart money app Plum has announced that the company reached operational profitability for the first time in January 2026.
Plum has multiple income streams spanning customer subscriptions, asset-based revenue and transaction revenue, which have together contributed to the company achieving this positive EBITDA milestone.
The app has benefited from steep growth in the last 18 months. Hundreds of thousands of new customers have been actively using Plum to manage their money, taking overall downloads to more than 5 million.
The launches of a Cash ISA and Lifetime ISA with highly competitive interest rates has contributed significantly to this surge, the firm says. The company now manages around £3 billion in assets through the app.
At the same time Plum has continued to build its subscription offering, which includes free travel insurance, a free VPN subscription and discounts on everyday essentials.
Plum is now reporting strong financial growth of 60%+ year on year along with making £34 million ARR.
“This is a major step forward for Plum,” said Victor Trokoudes, founder & CEO. “We’ve worked very hard on our product to make sure it continues to deliver outstanding benefits for customers.
“This has paid off as we’ve now reached operational profitability, a key milestone for any company but especially for a fast-growing FinTech like us.”
“What’s really exciting is that we now can reinvest the profit back into what I believe is the best holistic personal finance app in the market.
“There is still a huge opportunity to help people manage their finances with the help of the latest technology, in particular generative AI.
“Only 8% of people in the UK have ever received personalised financial advice — leaving 92% of us to figure it out on our own.
“We’re building something for this group who have never had financial advice because for too long, the financial world hasn’t been built for most people.”