LONDON - British money manager M&G said on Wednesday it has taken a minority stake in digital wealth manager Moneyfarm as part of a broader partnership.

M&A will use Moneyfarm's technology, digital capabilities and investment guidance to back its own branded proposition.

The finance details of the deal were not disclosed, but a source with knowledge of the transaction told Reuters that the funding round values Moneyfarm at between 300 and 350 million pounds ($473 million).

  - Reuters