Digital Wealth Manager Moneyfarm Raises £40M

Moneyfarm announced that it has secured the largest funding round – £40M – by a European digital wealth manager to date. The round was led by Allianz Asset Management, which has increased its minority stake in Moneyfarm after first investing in the company in 2016.

“Over the last few years, we’ve grown rapidly to become one of the largest digital wealth managers in Europe and one of the few to be successfully operating at scale in more than one country. We now have over 27,000 active investors” – cofounder and CEO Giovanni Dapra.

Also joining the investment round were venture capitalist firm Endeavor Catalyst and Italian finance firm Fondazione di Sardegna. Further funding from existing backers include private equity firm Cabot Square Capital and initial investor United Ventures.