Moneyfarm has acquired German digital wealth manager, vaamo.
Marking its entrance into its third market, the company will combine its award-winning investment services with vaamo’s foothold in the German market to provide more personalised and innovative investment advice solutions across Europe.
vaamo launched in 2014 as Germany’s first independent digital wealth manager. Founded by Thomas Bloch and Oliver Vins, vaamo offers regulated fully-managed discretionary portfolios, much like Moneyfarm.
Over the last four years, vaamo has built both a successful direct to consumer and B2B offering. Partnerships include leading digital bank N26, and 1822direkt, the online business of one of Germany’s largest savings banks.
The acquisition allows Moneyfarm to leverage vaamo’s strong foothold in the German market to accelerate its entrance into Germany, which is already home to the world’s top savers – the average household saving 9% of their income.