Principia backs MoneyFarm

The Milan-based company will use the funding to support its expansion in Italy with the opening of new offices and a planned extension of its service range.

Previous funding
VCs Annapurna Ventures and Jupiter Capital backed the company earlier this year.

Company
Founded in 2011 and based in Milan, MoneyFarm is an online investment advisory firm. The company operates an online personal banker system, which recommends a portfolio of investments based on a user's profile and goals.

MoneyFarm offers three subscription packages with a monthly cost of €9.99-34.99 for an unlimited number of investment portfolios with up to 14 exchange traded funds. The company states that its services are up to 50% cheaper than the same investments in retail funds.

The firm has around 200 customers and is authorised by the Italian financial services authority.

People
Andrea di Camillo is a managing partner at Principia.

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• Topics
• Southern Europe
• Financials
• Expansion
• Italy
• Principia