The Leap of InternationalizationFOUNDED IN 2011 BY GIOVANNI DAPRA' AND PAOLO GALVANI, TODAY MONEYFARM IS ONE OF THE BEST FINANCED INNOVATIVE COMPANIES IN ITALY AND EUROPE
For a long time, Moneyfarm was considered the Italian scale-up par excellence, but today the definition must be of a full-fledged digital asset management company. Moneyfarm was founded in 2011 by Paolo Galvani and Giovanni Daprà. The latest rounds of financing have raised €115 million in equity capital, making it one of the best-funded digital companies in Italy and in Europe. "A great success, but also a great responsibility", says Daprà, who got his undergraduate degree in finance from Bocconi in 2005.
"The more we grow, the more attention we must pay to results and the complexity of the organization. Furthermore, the transition to an international dimension is a veritable quantum leap which forces us to be even more rigorous in management and business processes." Having set up offices in Milan, Cagliari, London and Frankfurt, Moneyfarm employs a team of over 120 professionals managing €830 million worth of assets on behalf of over 40,000 small investors.
The company has been posting double-digit growth. "There are some constants that have accompanied us in our evolution: the creation of a solid corporate culture and an excellent work team, which is the first variable determining success", Daprà explains. "To this must be added the choice of using a single platform for all the three countries where we are present, which is not only dictated by technological reasons, but also by a strategy that brings the best of each country into the other two and doesn’t lead to an overtly national characterization".
So is it time to cash in and leave? "For financial investors, it is a prospect that is always open, that’s normal, but I don't think it concerns us and certainly not me. I always said I would feel like a real entrepreneur when the company became capable of supporting itself. We’re not there yet, but we will soon make it, so there's no reason to leave now ".
by Francesco Elli
Translated by Alex Foti