Robo-adviser Moneyfarm has seen its investor base double to 30,000 , May. Moneyfarm climb more than 120% to $515m ( $515m ) in the past year to May and revenues reach £1m for the first time, according to its latest results, which also showed total losses increased to £400m ( $18m ). The average first investment size was up more than 120% following the addition of a pension product and the initial investment threshold also rose from £1 to £500. The digital wealth firm plans to provide more personalised product, add lifestyle financial planning to its offering and to extend to cater to couples and families.
Robo-adviser Moneyfarm has seen its investor base double to 30,000, AUM climb 50% to £400m ($515m) in the nine months to May and revenues reach £1m for the first time, according to its latest results, which also showed total losses increased to nearly £14m ($18m). The average first investment size was up more than 120% following the addition of a pension product and the initial investment threshold also rose from £1 to £500. The digital wealth firm plans to provide more personalised product, add lifestyle financial planning to its offering and to extend to cater to couples and families.