Moneyfarm, a Milan, Italy and London, UK-based fintech startup, raised €46M in new funding.
The round, which brings total funding to over €70m, was led by Allianz Asset Management, with participation from Endeavor Catalyst, and Fondazione di Sardegna, and existing investors United Ventures, Cabot Square Capital.
The company intends to use the funds to consolidate its presence in Italy and UK and continue to grow abroad, extend its product offering and its current team of 90 people in London, Milan and Cagliari.
Co-founded by Paolo Galvani and Giovanni Daprà in 2011, Moneyfarm is an online investment advisor and one of the largest digital wealth management companies in Europe, regulated by Financial Conduct Authority (FCA) and Consob in Italy.
The company, which today has over 27.000 clients in Italy and UK, adopts a hybrid model that unifies tech innovation and a team of traditional advisors.