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Italian digital wealth management startup, MoneyFarm has completed a round of financing as it prepares for its launch into the UK market. The company, which recently received regulatory approval from the FCA (and is also regulated by the Bank of Italy and CONSOB), has raised a €16 million investment from Cabot Square Capital, and United Ventures.

James Clark, Partner at Cabot Square Capital, says: “The excellent management team at MoneyFarm has a clear vision of how to use technology to dramatically improve the investment management industry for clients. Combining technology with a strong customer service ethic has enabled them to build lasting relationships with their customers.”

“We were particularly impressed by the depth of service MoneyFarm offers its customers, combining portfolio structuring, execution, ongoing rebalancing and advice.”

“The team has proven MoneyFarm’s appeal by building a sustainable and growing FinTech business in Italy and we are excited to help them deliver the same level of service and product to clients here in the UK.”

MoneyFarm uses technology to deliver high quality advisory and discretionary services at a fraction of the cost of a traditional wealth management firm. With one of Europe’s largest FinTech fundraising rounds of 2015, MoneyFarm, as well as launching in the UK in 2016, will continue the double-digit growth in the Italian market while positioning itself to be Europe’s leading Digital Wealth Management business.

FM

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