Moola cuts minimum investment by 75%

By Moriah Costa on Wednesday 23 August 2017

Savings and Investment

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

Sign up for our newsletters


Your daily 7am download of all things alternative finance and fintech.

Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivered Monday at midday.


Companies in this Article:

iShares

More like this:

UK VC funds catch up to their US rivals

26 November 2021
John Reynolds