Taylor Wessing has advised digital wealth manager, Moneyfarm, on its £36 million series C financing round.
Set to be the one of the largest digital wealth management partnerships in Europe, the financing was led by Poste Italiane. The partnership will integrate Moneyfarm’s services with Poste Italiane’s digital platform.
Allianz Asset Management also contributed to the Series C funding round, after expanding into the German wealth management market with Moneyfarm earlier this year.
Commenting on the deal, Mike Turner, Partner and International Head of Technology, Media and Communications at Taylor Wessing, said: “Moneyfarm is redefining the wealth management industry through application of technology. We share this transformative mind-set and seek to challenge the way legal advice is delivered through technology. This shared ethos made working on this deal a true pleasure. We're pleased that our expertise and understanding of their needs has contributed to Moneyfarm's success."
Co-Founder and Chairman of Moneyfarm, Paolo Galvani, said: “Since launching in the UK, Moneyfarm has gone from strength-to-strength and we have used this momentum as a springboard to deliver on our exciting and ambitious growth plans. Our thanks go to our team at Taylor Wessing for all the help they have provided us. Their support has played a huge part in helping us grow and reach this latest milestone."
The team was led by partner Mike Turner (Corporate) with support from senior associate Siobhán Langwade (Corporate).
Moneyfarm is a wealth manager that blends human expertise and technology to make personal digital investment advice and fully-managed portfolios widely accessible. First launched in 2012 and headquartered in the UK, Moneyfarm’s wealth management solutions enable its customers to make confident, stress-free investment decisions to build a more financially secure future. Moneyfarm’s approach to investment blends human expertise and financial knowledge with digital convenience to deliver cost-effective advice and investment solutions. Regulated by the FCA, it is a fast growth company with 40,000 active investors with AUM of £720m as of September 2019. The company is led by co-founders Paolo Galvani and Giovanni Daprà. See the website for further information: www.moneyfarm.com.
