Digital Wealth Manager Moneyfarm Secures £40 Million Through Series B Funding Round Led By Allianz Asset Management

Digital wealth manager Moneyfarm announced on Tuesday it secured £40 million through its latest Series B funding round, which was led by Allianz Asset Management. The company reported that it is planning to use the funds to drive next evolution in digital advice. While sharing details about the investment round, Giovanni Dapra, Moneyfarm CEO and Co-Founder, stated:

“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. Today marks an exciting milestone for Moneyfarm as we look to expand our customer base through a focus on greater personalisation of the investment advice we give to help support and guide customers along their wealth journey.”

Moneyfarm also reported that, following the launch of the Moneyfarm Pension earlier this year, it is well placed to accelerate our growth as a financial services company through the expansion of our products and distribution. Giovanni added:

“This capital will help bolster our product and investment advice offering as we explore integrating Goal-Based Investments. Adding an additional layer of personalisation means that individuals and families will be allocated portfolios that help them achieve their financial dreams, whether it’s a child’s higher-education or building a retirement nest-egg.”