Investing without borders: Plum delivers their mission with Airwallex
Find out why leading wealth management and investing app Plum chose Airwallex to power its stock investing feature.
Bank-beating FX rate
ensures Plum clients get the best return on their investment
Dedicated engineering team
allowed for fast platform integration
Multiple FX capabilities
reduces the settlement risk for brokers
Plum is a wealth management and investing app that uses open banking and automation to help clients understand their spending habits, save little and often, and grow their money through investment.
Number of employees
100 - 150
United Kingdom, Greece, Cyprus
Airwallex Products Used
CEO and Co-Founder of Plum
"Airwallex is the perfect cross-border payments and FX partner to support our mission. Their strong technological infrastructure and dedicated engineering support team has allowed for a seamless integration process."
Plum has a mission: to make your money go further.
The leading wealth management and investing app uses open banking and automation to help clients understand their spending habits, save little and often, and grow their money through investment.
When choosing a cross-border payment solution for their new stock investing feature, Plum CEO and Co-Founder Victor Trokoudes knew they needed a partner that would help them deliver on their core mission, so he came to Airwallex.
Airwallex’s experience working in the WealthTech ecosystem, and our dedicated engineering teams, allowed for the fast integration of flexible FX capabilities into the Plum platform.
Airwallex was also able to deliver direct integration with US clearing brokers, and support a variety of broker clearing models, from Fully Disclosed to Omnibus and Self Clearing.
How is Plum using Airwallex?
Plum’s new investment feature allows clients to trade in a variety of stocks, including fortune 500 companies such as Google and Apple, from as little as £1.
As part of their offering, Plum enables clients to invest in 500+ US companies across a range of industries and options, including tech, healthcare and ethical finance. And they have plans to expand their offering to the EU.
With their Airwallex cross-border payments integration, Plum can ensure clients get the best exchange rate when buying and selling stocks internationally. With Airwallex’s flexible FX capabilities built into the platform, clients can benefit from a greater return on their investments.
CEO and Co-Founder of Plum
"Airwallex as a business knew what they were doing, they had done it in other markets, so there wasn’t much of a risk. The willingness to explore and build together led us to work with them."
Building flexible FX into Plum
Plum wanted to minimise FX fees for customers when trading international stocks.
They needed a solution which would allow for inexpensive multi-currency exchange and direct integration with US clearing brokers. They also needed a partner that could work quickly and facilitate a fast go-to-market for their new stock investing feature.
Plum built Airwallex’s multi-currency payment acceptance and low FX rate into their platform. That means when Plum clients trade stocks from international companies, they can be sure they’re always getting the best exchange rate.
With the Airwallex solution in place, Plum can collect, hold and convert funds in multiple currencies at a bank-beating FX rate. Additionally, 24/7 FX settlement allows for FX quotes outside of market hours, LockFX adds more stability for quotes, and Post Fund FX reduces the settlement risk for brokers.
The Airwallex integration will help Plum minimise the cost of international investment and deliver on their promise to make their customer’s money go further.
Seamless platform integration
Airwallex was designed for businesses like Plum.
The process of building Airwallex into the Plum product was smooth thanks to our experience working in the WealthTech ecosystem, our user-friendly APIs and our fast-working engineering team, who implemented the features to cover Plum’s needs in record time.
Product Manager at Plum
"Building Airwallex into our product was basically seamless, thanks to their easy-to-use APIs and dedicated engineering support team. What was really impressive was that they implemented new features and customised their product really fast to cover all our needs."
Empowering businesses to build without limits
Airwallex helps businesses like Plum grow without borders and deliver the best results for their customers.
Jed Rose, GM, EMEA at Airwallex, said: “How a person manages their wealth is key to their financial success, and Plum has identified an innovative way to help achieve that.
We are excited to be Plum’s partner of choice as they look to grow internationally, supporting them on their latest stock investing feature. Our global financial infrastructure aims to empower businesses just like Plum, enabling them to operate anytime and anywhere. We look forward to deepening our partnership and together, continuing to innovate through technology.”
Airwallex (UK) Limited (Company No. 10103420) is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (firm reference number 900876).
See how our customers are finding Airwallex
"Airwallex have been a fantastic partner for Olsam Group as we grow our eCommerce brands to new channels and new markets. Their easy to use interface and integrations have been a joy for our finance team to use as we scale."
"For ME + EM, expanding into international markets such as the US has been our focus - and with Airwallex, we were able to use their local USD Global Account to collect from our Paypal US account, thereby allowing us to save 3% on each transaction. The process of working with Airwallex has been seamless - our suppliers get paid quickly, we have a dedicated Relationship Manager who has been really patient, helpful and quick to respond. I am keen to use their cards to pay for our ad spend in the near future to save further on our USD invoices."
Finance Manager, ME + EM
“We used to pay Stripe between $5,000 and $10,000 a month in conversion fees because most of our customers pay in dollars. Now we funnel that money into our Airwallex US dollar account, we don’t have to pay commission. We’ve saved more than $100,000 so far this year”
Founder and CEO, Brandbassador
"We love Airwallex! It has considerably eased our invoicing and payments to contractors around the world. Sending and receiving money is much faster and cheaper than before."
Co-Founder, Mobile Transaction
“We are so glad that we have found Airwallex! There are no hidden charges, they are quick to respond to any queries and we had the smoothest transaction with amazing support from the team continually.”
Supply Chain Executive, Miss Patisserie