Moneyfarm, a Milan, Italy and London, UK-based digital wealth management company, raised £36M in Series C funding.
The round was led by Poste Italiane with participation from Allianz Asset Management.
The company intends to use the funds to roll out its wealth management services for investors across Europe.
Moneyfarm leverages API capabilities to trigger innovative partnerships across Europe, including the UK.
With nearly 35 million customers, Poste Italiane currently manages over €514 billion (£455 billion) through its traditional financial and insurance services. With the agreement, the company’s combination of digital investment advice, human guidance and fully-managed portfolios will be integrated with Poste’s digital platform.
Earlier this yeatr, Moneyfarm and Alliance developed a multi-asset product in an exclusive partnership for the German wealth management market.
Co-Founded by Chairman Paolo Galvani and CEO Giovanni Daprà, Moneyfarm is a digital wealth management company providing solutions and support to protect and increase investments through time.
The company, which has over 40,000 customers across the UK, Italy and Germany, has also announced a third successive year of revenue growth for the 2018 financial year. Turnover increased 61% in the year to 31 December 2018, with group AUM growing over 80% year on year to £734m.