Announcing our first ever SPV: Plum Fintech

Moving beyond a savings app to become an intelligent bank

Plum connects to the user’s bank account to help the customer save continuously via automated savings and reduced bills and expenses and invest continuously. Plum is working towards becoming a more comprehensive financial services platform, expanding from its current intelligent bank account savings and wealth growth features to stock and crypto trading, and cash management, as well as debit card offerings that can help it serve a larger portion of the population and financial services ecosystem.

Mass market mindset positions Plum apart from its competitors

Plum is competing against wealth management and brokerage apps, as well as neobanks offering adjacent services. Plum differentiates itself by its broad target customer profile and non-competitive appeal (everyone wants to save money). Moreover, Plum enjoys easier customer onboarding and better money movement capabilities as it does not replace current accounts but rather connects to them resulting in a strong customer acquisition profile with lower costs. This has helped Plum become a customer magnet, as it became the app with the most downloads in the wealth management space.

More SPVs to come…

500 Istanbul I currently has 1 unicorn, 3 soonicorns (expecting over the next 2 quarters 🤞), and 5 other companies that are valued at $100M+. We will continue to launch SPVs for our Fund I companies over the next year since the fund is fully deployed. With a zero-cost structure for the participating investors, SPVs are a great way to engage with our investors and pull in more capital into the ecosystem.



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Enis Hulli

Enis Hulli

Partner @500Startups Istanbul,, Glocal Podcast