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Moneyfarm Statistics: AUM, Valuation, Revenues, Number of Users & More

Franklin Silva| Updated January 23rd, 2024

Founded in 2011, Moneyfarm describes its service as ‘wealth management, reimagined’. Essentially, Moneyfarm is a digital wealth management business operating throughout Europe (primarily the UK). Moneyfarm brings a whole host of investing services under one roof and aims to provide investors with a cheap but effective platform for accessing global markets.

In this article, we’ll dive into all the details surrounding Moneyfarm’s latest business statistics. We’ll explore the platform’s ownership, the assets under management (AUM), number of users, revenue figures, valuation and more. This information will provide valuable insights into Moneyfarm’s business, showcasing its innovation and growth in the digital wealth management space.

Whether you’re a current Moneyfarm user, thinking about using the platform, or simply curious –  keep reading to discover the latest Moneyfarm statistics for 2024.

Overview

Moneyfarm is a digital wealth manager that works very similarly to a robo-advisor service. As a customer, you can set up an account and provide details of your investing goals and risk appetite. You can then choose whether to opt for an actively managed portfolio or one with a fixed allocation. It’s also starting to expand its options to offer investing in individual stocks, but this is in an ‘early access’ stage.

You can start investing with a Moneyfarm portfolio from just £500. Depending on your choices, your Moneyfarm portfolio could contain a blend of equities (stocks and shares), bonds and commodities. The equity portion of the Moneyfarm portfolios will be made up of exchange-traded funds (ETFs), and generally, it avoids illiquid investments like commercial property, for example.

There are 4 main options when investing using Moneyfarm:

  1. Actively managed portfolios: the expert team at Moneyfarm will be hands-on with your portfolio, adjusting when necessary.
  2. Fixed allocation portfolios: this is a more passive approach, it’s built by experts but a ‘set and forget’ style, which is why the fees are lower. 
  3. Liquidity+: this is a money market investment solution where you can earn over 5% with low-risk investments that track things like the central bank base rates. 
  4. Share investing: this is a new element to Moneyfarm and is in an early access mode right now, but it lets you invest in stocks, ETFs and mutual funds of your choosing. The account is free, but trades cost £3.95 and a 0.7% FX fee.

You also get the option to dedicate up to 20% of your chosen portfolio towards ‘thematic investing’, which basically involves investing around certain sectors and themes like ‘technology’, ‘sustainability’ and ‘society’, for example.

The fee structure for Moneyfarm customers depends on the type of portfolio you have and the total portfolio size. Here’s a quick breakdown of the management fees:

Portfolio size Fee for account type
Actively managed Fixed allocation Liquidity+
£500 – £10,000 0.75% 0.45% 0.3%
£10,000 – £20,000 0.7% 0.45% 0.3%
£20,000 – £50,000 0.65% 0.45% 0.3%
£50,000 – £100,000 0.6% 0.45% 0.3%
£100,000 – £250,000 0.45% 0.35% 0.3%
£250,000 – £500,000 0.4% 0.3% 0.3%
£500,000+ 0.35% 0.25% 0.3%

Here are the key corporate statistics on Moneyfarm:

  • Founded in: 2011
  • Headquarters: London, UK
  • IPO date: Moneyfarm has not yet gone public
  • Sector: Financials
  • Industry: Robo-advisor, Digital Investment Management
  • Founders: Giovanni Daprá and Paolo Galvani
  • Number of employees: 200+ (January 2024)

Ownership

Moneyfarm is still a privately owned company right now. However, this hasn’t stopped it from acquiring other firms like Wealthsimple’s UK business (in 2021) and Profile Pensions (in 2022).

Since it began in Milan, Italy, in 2011, Moneyfarm has grown and expanded largely through private investors and institutional investments. There have been 9 funding rounds with 13 total investors and 5 lead investors.

Moneyfarm investors

According to Moneyfarm, here are the major investors in Moneyfarm so far:

  • Allianz Global Investors
  • Cabot Square Capital
  • Poste Italiane
  • M&G
  • United Ventures

Moneyfarm Users

In the first half of 2023, Moneyfarm reported that its number of active users had increased by 15% and it now had over 102,000 active users on the platform. The finalisation of the acquisition of Profile Pensions also meant adding a further 24,000 clients, taking the total to more than 125,000. Alongside the active client figures, Moneyfarm reported its total users reached around 650,000.

What’s particularly interesting about the latest figures is that Moneyfarm has managed to attract more female investors, a demographic that’s often underrepresented in the investing space. There’s been an 8% increase in female clients compared to 2022, and women now make up around 32% of Moneyfarm’s active users.

The generational breakdown of users on the Moneyfarm platform looks like this:

Generation Percentage of Moneyfarm users
Millenials (ages 28 to 42) 43%
Generation X (ages 42 to 57) 27%
Baby boomers (ages 57 to 75) 12%
Other 18%

Below are some estimates for Moneyfarm’s overall user growth since it launched its investing services.

Moneyfarm number of users by year

Year Active users
2023 125,000+
2022 90,000+
2021 *70,000+
2020 50,000+
2019 40,000+
2018 27,000+
2017 10,000+
2016 5,000+

Source: Moneyfarm, * estimate

Moneyfarm AUM

As Moneyfarm’s user base has grown over the years, so too has its assets under management (AUM). Moneyfarm’s AUM figures have also received boosts from its acquisitions of other companies, automatically taking additional users on board in bulk. 

Moneyfarm reached a total of £1 billion AUM by 2020, and today, in 2024, that figure sits at more than £3.5 billion. Moneyfarm has been quite open and transparent about the growth of its AUM over time, and you can see how the Moneyfarm AUM statistics have progressed throughout the years in the table below.

Moneyfarm AUM by year

Year Assets under management (AUM) in GBP
2023 £3.5 billion+
2022 £2.6 billion+
2021 £2 billion+
2020 £1 billion+
2019 £734 million+
2018 £400 million+
2017 £260 million+

Source: Moneyfarm

Moneyfarm Valuation

Since its inception, Moneyfarm’s ability to grow both its user base and AUM year-over-year has made it an attractive investment opportunity for venture capital firms and established institutions with deep pockets. 

Each round of funding has helped fuel further growth, and Moneyfarm has continued to deliver at each stage, which only bodes well for the firm’s overall valuation, which sits at around $500 million USD

However, the financial climate right now is tough for fintech companies and financial firms. We’ve seen plenty of valuations drop by 50% or more since 2021 due to an overall cooling of the market with higher interest rates and high levels of inflation squeezing company finances and investor appetite. There were rumours that Moneyfarm was planning an initial public offering (IPO) at one stage, but like most firms, it’s probably going to wait until things pick up to raise as much capital as possible with better timing.

Nevertheless, even in a challenging environment, Moneyfarm has continued to grow and expand. Rather than already peaking, its valuation has steadily increased. Although, part of this growth is due to strategic acquisitions rather than organic user growth. Whatever way you look at it, there is plenty of smart money from large institutions backing Moneyfarm, so they must see some promising results that we, the general public, can’t access yet.

Moneyfarm valuation by year

Year Valuation USD
2023 $540 million
2022 $300 – $350 million
2021 $275 million*
2020 $250 million*
2019 $187 million
2018 $228 million

Sources: Reuters, Moneyfarm, CB insights, Tracxn, *estimates

Moneyfarm Revenues

Until Moneyfarm goes public, we won’t be able to see a full financial picture. Still, it does report some finances like revenue to the UK Government under the business name MFM Investment LTD. This gives us a decent idea of Moneyfarm revenues over the years. Moneyfarm typically generates revenue through:

  • Account and platform fees.
  • Portfolio management fees.
  • Foreign exchange (FX) fees. 
  • Trading commissions. 

Take a look at Moneyfarm’s reported yearly revenues below.

Moneyfarm revenue by year

Year Revenue GBP
2023 £19.5 million*
2022 £14.5 million
2021 £9.8 million
2020 £5.8 million
2019 £2.7 million
2018 £1.6 million
2017 £1 million
2016 £168,000

Conclusion

Most of the Moneyfarm statistics show that this is a business growing at a decent pace in pretty much every area. Whichever metric you’re looking at, whether that’s Moneyfarm’s AUM, revenues or users – all seem to be trending in the right direction. And there’s no certainty, but you’d expect all of this to have a positive effect on Moneyfarm’s valuation. 

It’s particularly impressive that Moneyfarm has managed to grow in such challenging conditions. However, it is still heavily reliant on funding from institutional investors and backers. According to its latest filing in the UK, it has an operating loss of over £12 million. But this isn’t an uncommon situation for start-ups. If Moneyfarm can keep expanding its offering to investors, this will hopefully lead to a knock-on effect on Moneyfarm’s number of users, AUM, revenue and overall valuation. If this happens, Moneyfarm could be on track to becoming profitable in the near future.

Other FAQs

Is Moneyfarm profitable?

Not right now. According to its latest filing with Companies House in December 2022, Moneyfarm had a total loss of £12,357,518.

Who is the CEO of Moneyfarm?

Giovanni Daprá is the co-founder and current CEO of Moneyfarm.

Who is Moneyfarm owned by?

Currently, it’s privately owned and likely a combination of the founders, employees and institutional investors that have backed Moneyfarm through multiple rounds of private fundraising.

How many customers does Moneyfarm have?

The latest report by the company states that it now has around 125,000 active users.

Franklin Silva
Co-Founder & Fintech Analyst

Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.

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