Failed 2023
MoneyFarm (Flat Round & Layoffs)
Italian wealthtech MoneyFarm raised €170M+ then conducted layoffs and reportedly accepted a flat-to-down round in 2023 as European wealthtech profitability remained elusive.
Founded → Closed
2011 → 2023
Funding Raised
$190M
Industry
Fintech/WealthTech
Country
Italy
Full Analysis
Milan-based MoneyFarm is Italy's most-funded wealthtech, raising over €170M from Poste Italiane, M&G and Allianz. After years of growth, the 2023 European wealthtech reset forced layoffs and reportedly a flat-to-down financing as the company prioritized profitability. A defining Italian wealthtech datapoint for the 2023-2024 European fintech correction.
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