Moneyfarm raises £36m in Series C funding from Poste Italiane and Allianz
Poste Italiane led the Series C round alongside participation from Allianz Asset Management.
Moneyfarm is an independent digital wealth management company offering online financial advisory and execution services across Europe. The firm combines proprietary technology with human expertise to deliver ETF based portfolio management to retail investors.
Moneyfarm has secured £36m in Series C funding from Poste Italiane and Allianz Asset Management. The transaction involves Poste Italiane taking a non-controlling stake in the digital wealth manager through a subscription agreement for Series C shares. The partnership will see Moneyfarm provide digital wealth management solutions to Poste Italiane customers.
The capital injection supports Moneyfarm as it expands its footprint and integrates its technology into broader institutional networks. The private placement remains subject to regulatory approval and is expected to close by the end of 2019.
From the founder
"This ground-breaking open innovation agreement represents a critical milestone for Moneyfarm. The value of our service model, which blends technology with human expertise (hybrid model), received important recognition today"
Giovanni Daprà
Chief Executive Officer at Moneyfarm
