Digital wealth manager Moneyfarm eyes potential IPO – Reuters

Moneyfarm SIM SpA is considering a potential IPO either in Italy or in the U.K. in 2023, among other strategic options it is looking into, Reuters reported, citing sources.

The potential IPO could value the pan-European digital wealth manager at about £400 million.

Sources told the newswire that Credit Suisse Group AG and Barclays PLC could act as global coordinators for the potential IPO. Moneyfarm recruited both lenders as its main banks, following its latest funding round in January, which valued the wealth manager at about €325 million.

UniCredit SpA could also serve as bookrunner for the potential listing. The Italian lender has a partnership with Moneyfarm.

Since its 2012 launch in Milan, Moneyfarm raised €166 million from several funding rounds. Its customers and AUM, which is at €2 billion as of last summer, rose by more than 70% in 2021, according to the report.