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Moneyfarm raises 53 million from M&G and Poste Italiane, already a minority shareholder in the investment company since 2019. All details
Moneyfarm, an international investment company with a digital approach, has completed a new round of financing worth approximately 53 million. The capital increase was subscribed by M&G plc and Poste Italiane, already a minority shareholder in Moneyfarm since 2019.
Moneyfarm's total capital raising thus rises to over 166 million.
THE OBJECTIVES OF THE CAPITAL INCREASE
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 LAUNCH OF A NEW DIGITAL INVESTMENT SOLUTION IN THE UK
In particular, M&G and Moneyfarm have signed a commercial partnership for the launch, in the British market, of a new digital investment solution under the M&G Wealth brand. M&G will use the Italian company's “platform as a service” platform to offer an entirely digital product in the United Kingdom, aimed at new generation retail customers. This B2B2C commercial agreement, the first in the British market for the Italian company, accelerates its international growth path and confirms its business model.
THE NUMBERS OF 2021
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 STAKE OF M&G AND POSTE ITALIANE IN MONEYFARM
The private placement operation will be completed by the first quarter of 2022 and M&G will see the acquisition of a minority stake in Moneyfarm and Poste increase its investment in order not to dilute the stake already held.
ALL MEMBERS
The main shareholders of Moneyfarm, together with Poste Italiane and M&G, are the Allianz group, Cabot Square Capital and United Venture.
THE COMMENT OF DAPRÀ
“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”, commented Giovanni Daprà, co-founder and CEO of Moneyfarm. “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. "
David Montgomery, Managing Director of M&G Wealth, added: “We have been very impressed with Moneyfarm's innovative approach and are thrilled to support the Company in its growth plans. The first milestone will be to start working together in the UK to build a simple and effective digital offer for the benefit of a new generation of savers. "
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/poste-italiane-tutte-le-novita-in-moneyfarm/ on Wed, 26 Jan 2022 10:32:29 +0000.