MoneyFarm, a Milan, Italy and London, UK-based tech-driven investment advisory firm, raised €16m in venture capital funding.
Backers included Cabot Square Capital and United Ventures.
The company intends to use the funds to continue to scale the business. It is hiring.
Founded in March 2011 by Paolo Galvani, President, and Giovanni Daprà, CEO, MoneyFarm leverages a digital wealth management platform to provide independent investment advisory services to small savers. Its proprietary technology allows the company to create a unique profile based on a customer’s investment target and risk propesity. A team of experts continuously monitors the investment state and provides recommendations, if needed, to rebalance portfolio according to market trends.