Increasing activity of Allianz who has taken a minority stake in Italian digital wealth manager MoneyFarm
MoneyFarm cofounder and chairman Paolo Galvani. MoneyFarm Allianz has taken an undisclosed minority stake in Italian digital wealth manager MoneyFarm as it seeks to keep track of the fintech sector. MoneyFarm, founded in Milan in 2011, gives people access to low-cost wealth management services online. It is one of a number of so-called "robo advisors" — digital services to help people invest and manage their money. Cofounder and chairman Paolo Galvani told Business Insider: "We started with the consideration that it's incredibly difficult for someone with £5,000 to £10,000 to find some suitable and easy solution to invest their money. There's still a lot of complexity for a variety of reasons.