Allianz Ventures has acquired a minority stake in digital wealth management firm MoneyFarm by making an undisclosed investment.

Founded in 2012, MoneyFarm launched operation in the UK this year. It intends to use the investment to finance its expansion in the UK and across Europe.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“The enhanced resources and knowledge provided by Allianz’s investment will support the realisation of MoneyFarm’s vision to make wealth management a right not a luxury,” MoneyFarm said in its press statement.

MoneyFarm chairman and co-founder Paolo Galvani said: “This investment is an endorsement of what we have achieved so far and also an indication that we have so much potential ahead of us. It is becoming increasingly clear that existing players in this space have barely scratched the surface of possibilities. Across the whole investment lifecycle there is a need for a better model and a better solution. All the feedback we get from our customers is that this is exactly what they have needed.

“We have a relentless focus on creating solutions that fulfil customer needs. User friendly technology is not enough without excellent portfolio performance and we are delivering on that count as well. Our performance through market volatility, created by the vote to leave the EU, is testament to our investment strategy.”

Allianz chief digital officer Solmaz Altin said: “The combination of online and offline advisory has become a key trend in the wealth management space enabled by technology. Based on the partnership with MoneyFarm, we will further drive innovation to provide better experience to our partners and customers.”

The MoneyFarm team comprises senior management from financial institutions including Deutsche Bank, Morgan Stanley and BlackRock as well as from leading technology giants Google and Last.fm, the online music service.