Moneyfarm hits £1 billion

Moneyfarm has seen its assets under management increase to £1bn, across 45,000 customers.

Launched in 2012, and headquartered in the UK, the firm is also active in Germany and Italy. It was one of the first new breed of 'robo-advisers' or digital wealth managers to emerge on the fintech scene. It has raised over €115m of funding since launch.

Last year it announced an exclusive partnership with Allianz in Germany and a strategic product collaboration with Poste Italiane customers in Italy.

Giovanni Daprà (pictured right), Co-founder and CEO of Moneyfarm, said: “We continue to believe that an intelligent and carefully monitored investment strategy, with our customers’ financial goals at the forefront, is what makes our value proposition so unique. With this in mind, we will focus on further consolidating and developing the business across Europe, and we anticipate the launch of new investment solutions that are in line with our expansion plan.”