The digital wealth management platform was founded by Gemma Godfrey in 2015.
JLT Employee Benefits, a listed provider of various financial services, has acquired the robo adviser Moola, subject to regulatory approval.
The acquisition of Moola, JLT says, is part of an over-arching strategy to help UK businesses deliver better performance through the improved financial, emotional and physical wellness of its people.
As a potential enhancer of financial wellbeing among its customers, Moola will complements JLT’s core offering on Benpal, JLT’s rewards and benefits platform, the firm said.
Moola’s wealth management services will continue to be accessible through the www.moo.la website and other channels.
PwC acted as exclusive corporate finance advisors to Moola, alongside Clintons and Cameron Cunningham for legal and accountancy advice respectively.
Bala Viswanathan, CEO, JLT Employee Benefits says employee wellness is going to form an integral part of its UK Employee Benefit’s proposition.
“Moola will enhance our financial wellbeing offering. Given this shared ethos we believe JLT provides the right home for Moola. Employees of Benpal’s corporate customers stand to benefit enormously from the simplicity of Moola’s money management solution. We are confident that Moola will be a welcome addition to our Benpal proposition by offering a more flexible investment option,” he said.
Gemma Godfrey, Founder and CEO of Moola said: “With an increasing volume of people looking to their employer for financial wellbeing solutions, and JLT’s expertise and like-minded approach in this area, Moola’s existing clients will also benefit greatly from the scale and breadth of JLT".
Jardine Lloyd Thompson provides insurance, reinsurance and employee benefits related advice, brokerage and is a constituent of the FTSE 250. It is quoted on the London Stock Exchange and has offices in more than 40 territories with over 10,000 employees.