Moneyfarm, an international investment company with a digital approach, announces that it has completed a new round of financing worth approximately 53 million euros. The capital increase was underwritten by M&G, “lead investor”, and by Poste Italiane, already a minority shareholder in Moneyfarm since 2019. The overall capital raising of Moneyfarm thus rises to over 166 million euros.
The new round will be used for three key objectives to support future development: further growth of the retail customer base (B2C segment), expansion of the offer with new investment solutions and development of the B2B2C segment through strategic partnerships, thanks to which Moneyfarm will be in able to expand its service model, consolidating its positioning in the reference markets, Italy and the United Kingdom.
The company closed 2021 with assets under management growing by 72%, greater net positive flows (+ 128%) and with an increase of 73% in new customers (today over 80 thousand) compared to 2020.
The private placement operation will be completed by the first quarter of 2022, subject to the necessary authorizations from the supervisory authorities, and will see M&G – a leading group in the savings and investments sector with over 440 billion euros in assets under management – acquire a minority stake in Moneyfarm and Poste increase its investment so as not to dilute the stake already held.
At the same time as the financing round, M&G and Moneyfarm signed a commercial partnership for the launch, in the British market, of a new digital investment solution under the M&G Wealth brand. In particular, M&G will use the platform “platform as a service”Of Moneyfarm to offer an innovative, all-digital product in the United Kingdom, aimed at new generation retail customers. This B2B2C commercial agreement, the first in the British market for the Company, in addition to accelerating the path of international growth, further validates the strength of Moneyfarm’s business model, as a reference partner for primary traditional operators who want to develop effectively and promptly. digital investment solutions aimed at the retail market.
Giovanni Daprà, Co-founder and CEO of Moneyfarm, commented: «We are honored to welcome these important investors who have decided to share their experience with us and further support us in our growth path at European level. M&G is a unique partner with whom we will work immediately to accelerate development in the UK even further. Poste Italiane is already one of our main minority shareholders and commercial partner in the Postefuturo Investimenti offer and we are very pleased that it will continue to support us in achieving our objectives: it is an important confirmation of the validity of our innovative business model, which has always combined technology and human skills “.