Monday, November 9, 2015

MoneyFarm raises €16M in Venture Funding from Cabot Square Capital and United Ventures

Milan, November 9, 2015 - A significant step forward in the development path of MoneyFarm - the independent financial advisory firm that operates online, founded in 2011 by Paolo Galvani and Giovanni Daprà - receiving a record investment (for Italy) of €16M from the English fund Cabot Square Capital and United Ventures. The transaction has already received approval of the Bank of Italy and of FCA (the British Financial Conduct Authority).

The funds received by MoneyFarm with this operation will finance the development path of the company which is recording the growth of Italian customers by more than 20% month on month.

The management, in addition to consolidating its leadership in the Italian market by strengthening customer acquisition and product innovation, will focus on developing the company presence at international level. The company's goal is to become in the next five years the European leader for services of Digital Wealth Management continuing to combine technology, innovation and expertise in asset management to provide transparent, simple and efficient investment solutions.

The size reached with the capital increase allow MoneyFarm, and to Italy, to join more effectively in the effervescent international FinTech market and in particular in Wealth Management, a sector in full expansion that not only espouses finance technology but  has also created a new way of thinking about business. A recent study by Citigroup estimates that by 2025 the Digital Wealth Management will manage more than $5,000B in assets under management and guarantee the client a more efficient and automated wealth management. The success of these services is also attracting the attention of major international venture capitalists so that global investment in FinTech startup tripled between 2013 and 2014, jumping from $4B to over $12B (+ 201% against a average growth of 63% of other investments globally). Europe is the region that has experienced the largest growth of investments (+ 215%) in 2014. *

"We are particularly proud to have achieved such an important funding that will support us in our ambitious plans for future growth - declared the founding partners of MoneyFarm, Paolo Galvani and Giovanni Daprà - The trust given to MoneyFarm by a London-based fund, European "Mecca" of the FinTech space, is evidence of the growing interest by foreign operators and the great ferment taking place in the industry. We are ready and motivated to face the next important steps: further consolidation of the Italian market and the climb to the European leadership keeping in mind our history and especially the thousands of customers who have supported us so far."

James Clark, Partner of Cabot Square Capital, said: "the management of MoneyFarm has the clear vision of how to use technology to fundamentally change the approach of investors to the asset management industry. Combining innovation with strong ethics in the management of customers has allowed them to build a strong, transparent and long-lasting relationships with its customers. We are particularly impressed by the depth of the service offered to its clients by combining MoneyFarm ability of portfolio construction, execution of orders, the rebalancing during work progress and customized consultancy. The team has demonstrated the capacity of MoneyFarm of building a sustainable business and in constant growth for the Italian market and we are excited to support them in the implementation of a service equally qualified and of high level for the UK market. "

Concludes Paolo Gesess of United Ventures: "MoneyFarm is confirming our commitment to support Italian entrepreneurs with global ambitions. We are proud to have been the first to support the company in the development in Italy and still be the first to push it towards the European markets."

About MoneyFarm SIM S.p.A.
It is an independent financial services - registered at Consob No. 281 and the National Guarantee Fund No. SIM 0429. In August 2012, the SIM was launched on the web with, paving the way for independent consultancy via the Internet in the Italian market. The company led by Paolo Galvani and Giovanni Daprà can count on a team of 35 professionals of qualified background and more than 50,000 active users. The mission of MoneyFarm is to empower people to manage their money in a simple and efficient way and offers a unique service in Europe that provides personal advice on ETFs and trading activity.

About Cabot Square Capital LLP
Cabot Square Capital is one of the largest investors in the UK financial services market with a broad track record of success stories of businesses able to create scalable businesses across Europe aimed at both the consumer market and the institutions.

About United Ventures
United Ventures is a venture capital fund focused on the digital sector. The fund invests in visionary entrepreneurs who develop innovative technological solutions, supporting them in the process of international growth through proactive processes of investment. United Ventures is led by a team that has extensive experience and a strong track record in the investment industry, entrepreneurship and management. In portfolio: MoneyFarm, AppsBuilder, LOVEThESIGN, Halldis, MusiXmatch, Bad Seed, Cloud4Wi, BuzzMyVideos, FaceIt, Kuldat, MarinaNow.