Allianz et al. in €46m round for Moneyfarm

Alessia Argentieri
29 May 2018

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Allianz Asset Management has led a €46m funding round for digital wealth manager Moneyfarm.

The company's existing shareholders, United Ventures and Cabot Square Capital, also took part in the investment, alongside newcomers Endeavor Catalyst and Fondazione di Sardegna.

This new injection brings the total capital raised by Moneyfarm since 2012 to €70m.

The company will use the fresh capital to consolidate its market position in Italy and the UK, expand further internationally, and grow its product offering.

Previous funding
Annapurna Ventures, Jupiter Capital and United Ventures invested in Moneyfarm in 2012, followed by Principia, which backed the startup with €2.65m and exited the investment in 2015.

Cabot Square and United Ventures invested a joint €16m in the business in November 2015 to support MoneyFarm's launch in the UK, while Allianz Ventures backed the company with around $7m in September 2016.

Company
Founded in 2011, Moneyfarm is a robo-adviser that uses algorithms executed by software to provide digital wealth management. The company is headquartered in London and Milan, and has an office in Cagliari, Sardinia. Moneyfarm employs 90 staff, has 150,000 active users and manages assets on behalf of 27,000 clients.

People
Moneyfarm – Paolo Galvani (co-founder, chair); Giovanni Daprà (co-founder, CEO).
United Ventures – Paolo Gesess (partner).
Allianz Global Investors – Thorsten Heymann (global head of strategy).
Endeavor Italia – Raffaele Mauro (managing director).