Today, we are delighted to announce that Moneyfarm has partnered with M&G to hold a new Series D funding round worth £44.1 million. This will allow us to invest even more in our people and our platform. We’ll use these resources to keep building the best investment service possible for our clients, bringing simple and accessible investing to as many people as we can.
In addition, Moneyfarm and M&G have signed a partnership to bring a new platform for simple and accessible investing to even more investors. M&G will use Moneyfarm’s existing technology, digital capabilities and investment guidance to create its own branded proposition.
The new funding round will be used in some key areas, like expanding our product proposition and building out our new B2B2C proposition through further strategic partnerships.
We’re delighted about the partnership for a couple of reasons. For one, as Moneyfarm turns 10 years old, it’s great to have continued emphatic support from investors. Our clients are benefitting from simple digital investing backed by expert management and advice – it’s rewarding to see this recognised.
In case you missed it, we recorded a series of impressive achievements in 2021 when compared to 2020. Our assets under management increased 72% and we saw a 73% increase in new customers compared to 2020. Moneyfarm now has over 80,000 customers and £2.2b in AuM.
Secondly, we’re proud that such a staple brand in British financial services has chosen our technology to create a new, innovative product aimed at the next generation of retail customers in the UK. M&G has served investors for nearly 90 years and it manages assets of over £284 billion. We are excited to see where the partnership will take both businesses as the digital wealth management space expands and develops.
Our Co-founder and CEO, Giovanni Daprà, had this to say:
“Moneyfarm was founded in 2012 on the core principle that personal investing should be simple and accessible. Our distinctive partnerships with established players in the industry demonstrate the real value that can be created by combining the agility and innovation of a direct, digital fintech business with the scale and experience of an established provider.
“Having launched in the UK five years ago, we are very excited to be partnering with a proven name in M&G on the next stage of our journey”.
Over the last year, we’ve been working hard to improve the Moneyfarm service. In the coming few weeks, we’ll be sharing some plans we have for this year, starting with our annual conference in February. We’ll be setting out our vision for 2022 and giving our investors some insight into the topics we’ll be focusing on this year – secure your spot here.