Moola cuts minimum investment by 75%

By Moriah Costa on 23rd August 2017

Robo-AdviceEquity Crowdfunding

Users can now invest in the robo-advice platform for as little as £50.

Users can now invest in the robo-advice platform for as little as £50.

Robo-adviser Moola is slashing its minimum investment amount from £200 to £50.

Launched by Gemma Godfrey (pictured) in 2016, the service has been live since May.

“We've had members run through the online journey and typically our whole investing process takes around 10 minutes,” Godfrey, former Brooks Macdonald head of investment, said in a newsletter. “We slashed the minimum account size to just £50 (of course, please remember your "capital is at risk” and this is currently for UK residents only).”

The first 500 customers who sign up in August and invest at least £50 will get an additional £50 added to their account, she said.

The platform's portfolios are serviced by BlackRock’s iShares exchange traded funds. The firm has also partnered with fintech firm eValue, which runs the financial planning capabilities and with market maker Winterflood. The platform charges an annual fee of 0.75 per cent.

This article first appeared on www.roboadvicenews.com

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