Employee benefit provider JLT Employee Benefits (JLT) has snapped up Gemma Godfrey’s Moola for an undisclosed sum.
Following the acquisition, the complete Moola team will join insurance giant Jardine Lloyd Thompson's employee benefit subsidiary.
Moola will continue to offer its investment services through its website and other channels. In addition, it will become a core offering on Benpal (JLT’s rewards and benefits platform) as well.
‘We are delighted to be joining JLT and welcome the opportunity to work together to engage a broader customer base,’ said Godfrey (pictured), founder and chief executive, Moola.
‘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.’
Bala Viswanathan, chief executive officer, JLT Employee Benefits added: ‘Employee wellness is going to form an integral part of our UK employee benefit’s proposition, and Moola will enhance our financial wellbeing offering. Given this shared ethos, we believe JLT provides the right home for Moola.’
Plans for Moola were first revealed back in September 2015. It was officially launched in 2016 when Godfrey partnered with BlackRock, which gave it access to its research and exchange traded funds.
The company was backed by a number of City figures including Lansdowne Partners' chairman Stuart Roden as well as venture capitalists Run Capital and Odysseus Investments.