Digital wealth management firm Moneyfarm has announced an investment round of £40 million, led by Allianz Asset Management.
The funding round is the largest round completed by a European digital wealth manager to date, and will fuel growth for the company, including the launch of more personalised and innovative solutions and the expansion of the investment strategy.
Venture capital firm Endeavor Catalyst and Italian finance firm Fondazione di Sardegna joined as new investors, with further funding from existing backers United Ventures and Cabot Square Capital.
“Moneyfarm’s aim is to help individuals better manage their money and increase their wealth to reach their goals,” said Giovanni Daprà, chief executive and co-founder of Moneyfarm. “We firmly believe that efficient investment management has to be coupled with clear investment advice to achieve the best outcome for our customers over the long term. This is where we see the real value added from digital investments,” he added.
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