United Ventures' Moneyfarm buys Vaamo Finanz

Following the deal, Vaamo co-founders and co-CEOs Thomas Bloch and Oliver Vins will join Moneyfarm's executive board. Bloch will lead the German business as well as Moneyfarm's B2B activities across Europe, while Vins will become head of product at Moneyfarm. In addition, both companies will continue to service their individual customer bases and Vaamo will retain its brand name.

The acquisition will allow Moneyfarm to enter its third market, after Italy and the UK, by extending its presence to Germany where Vaamo already has a strong customer base.

Previous funding
Vaamo raised a €2.5m seed round in October 2014 and carried out a €5m capital increase in 2017, according to press reports.

Moneyfarm received a €700,000 seed investment from VC firms United Venture, Annapurna Ventures and Jupiter Venture in March 2011. Subsequently, Italian VC firm Principia injected €2.65m into the business in December 2012 to support its expansion in Italy with the opening of new offices. In January 2014, United Venture along with other investors, led a €700,000 round of growth capital funding.

Cabot Square Capital and United Ventures invested a joint €16m in MoneyFarm in November 2015 to support the company's launch in the UK.

Allianz SE Ventures led a series-B round for the company in September 2016, injecting a $7m equity ticket into the business to secure a minority stake.

Finally, in May this year, Allianz Asset Management led a €46m funding round for 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 investment brought the total capital raised by Moneyfarm to more than €70m.

Company
Founded in 2013 and based in Frankfurt, Vaamo is a digital wealth manager that provides financial advice based on algorithms with minimal human intervention to allocate, manage and invest its clients' assets.

People
Moneyfarm – Giovanni Daprà (co-founder, CEO).
Vaamo Finanz – Thomas Bloch, Oliver Vins (co-founders, co-CEOs).

Advisers
Acquirer – Taylor Wessing (legal); Greenfort (legal); Capitalmind (corporate finance); Deloitte (financial due diligence).

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