Moneyfarm, a robo-adviser has raised €40mn as part of its ongoing Series C funding round.
The lead investor is Poste Italiane, the Italian post office’s retail banking arm.
Allianz Asset Management will also be investing.
Moneyfarm is already part of a joint venture with Allianz.
What does this mean?
The company hopes that the investment as well as the relationships it brings will help it expand across Italy. It will form a strategic distribution partnership with Poste Italiane.