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Moneyfarm Aquire Vaamo in Bid to Accelerate Growth, According to GlobalData

Following the news that Moneyfarm have entered the German market through acquiring Vaamo, Sergel Woldemichael, Wealth Management Analyst at GlobalData, a leading data and analytics company, offers his view on the expansion:

“The Moneyfarm-Vaamo venture proves that increasing competition in the robo-advisory market is forcing players to find new ways of expansion in order to survive. Many start-ups were hoping to get acquired or partner with a bigger brand, but GlobalData’s survey of wealth managers shows that just over 45% of larger firms in Europe were looking to partner/acquire fintechs. This has now left room for the start-ups to consolidate amongst themselves.

“With Germany being Europe’s second largest robo-advisory market by AUM; this acquisition is Moneyfarm’s attempt to think outside the box on how to really make their mark in new territory. The move is a clever way for MoneyFarm to enter a new market without the need to set up own infrastructure from scratch. With Germany being a competitive and saturated market, after setting up an own shop, it would require a lot of effort to catch up with the leaders. The start-ups recognise they are better together than separate in such a cutthroat climate.”

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