JLT is on the money with Moola acquisition
JLT Employee Benefits (JLT), one of the UK’s leading employee benefit providers, has bagged FinTech company Moola, subject to regulatory approval
The acquisition of Moola will help JLT boost its aim of helping UK businesses deliver better performance through the improved financial, emotional and physical wellness of their people.
Moola complements this strategy by enhancing the financial wellbeing of customers. It will become a core offering on Benpal, JLT’s rewards and benefits platform, as well as continuing with its services through the www.moo.la website and other channels.
“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,” said JLT Employee Benefits CEO Bala Viswanathan.
“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.”
Moola provides easy-to-understand financial advice to millions of Brits.
It was founded by FinTech entrepreneur and consumer champion Gemma Godfrey, who was advisor to Arnold Schwarzenegger on The New Celebrity Apprentice. Her company’s focus is on being simple without the usual jargon.
Godfrey said: “At Moola we are focused on championing the consumer by providing the knowledge, tools and service to help more people save and invest more easily.
“We are delighted to be joining JLT and welcome the opportunity to work together to engage a broader customer base.
“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.”
Christophe Reech, Chairman of Odysseus Investments and Board Director of Moola said: “This acquisition is the perfect reflection of our strategic involvement in our portfolio companies.
“At Odysseus we believe in investing in innovative and leading companies, which naturally find their growth and evolution within larger corporations and institutions.
“We are proud to have contributed to this successful venture, and trust that within JLT, Moola will continue its journey to new levels.”
Following this acquisition, JLT will welcome the complete Moola team. PwC acted as exclusive corporate finance advisors to Moola, alongside Clintons and Cameron Cunningham for legal and accountancy advice respectively.