Moneyfarm to acquire Profile Pensions from Smedvig Capital.

Moneyfarm, an online investment advisor, agreed to acquire Profile Pensions, a UK-based digital pension adviser and pensions consolidator, from Smedvig Capital, a venture capital firm. The deal financed by Moneyfarm’s current shareholders, namely M&G, Poste Italiane, Cabot Square Capital, United Ventures and Fondazione di Sardegna. Financial terms were not disclosed. As a result of the transaction, Moneyfarm will grow into a larger and broader player, with a significant depth of proposition in digital wealth management across the UK and Italy. By combining Moneyfarm and Profile Pensions solutions, it will create an even stronger fintech business for customers.