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Wealth manager Moneyfarm wins Poste Italiane, Allianz backing

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By Reuters

LONDON (Reuters) – Digital wealth management company Moneyfarm said on Thursday it had raised 36 million pounds from Poste Italiane <PST.MI> and Allianz Asset Management <ALVG.DE> in its latest funding round.

Moneyfarm also said it plans a strategic partnership with Poste Italiane that will see the financial technology company’s digital investment advice and managed investment portfolios made available to the Italian company’s customers on its platform.

The Series C funding round marks the third time Moneyfarm has raised money from outside investors. Since launching in 2012, it has attracted 40,000 active investors with combined assets of 734 million pounds.

(Reporting by Simon Jessop, editing by Kirstin Ridley)