Gemma Godfrey’s new online investment firm Moola has received the financial backing of a number of City figures, including Lansdowne Partners’ chairman Stuart Roden.
Moola, which officially launched in April, is also backed by retired hedge fund manager Marc Rubinstein, a former colleague of Roden’s at Lansdowne. He owns 9,505 shares in the business, while Roden’s stake totals 48,547 shares, according to a filing on Companies House.
Each ordinary share in Moola has a nominal value of £0.0025. However, this does not reflect the amount investors paid for their stakes.
The wealth firm declined to disclose how much has been raised via a fundraising in September 2015, followed by another that concluded more than a year ago.
Godfrey (pictured), who was previously head of investment strategy at Brooks Macdonald, has attracted an investment from former colleague Robert Seifert, who is an investment director at the wealth manager.
He is not the only wealth manager on the roster: Jonathan Seifert, who is an associate partner at St James’s Place, also has a shareholding in the business. They own 951 shares apiece.
Other backers include Tracy Benjamin, a partner at property investment firm Osprey Equity Partners, alongside James Terrar, a senior analyst at hedge fund Gladstone Partners.
Across the Atlantic, Andrew Rudd, chief executive of US-based wealth planning technology firm Advisor Software, has taken a stake totalling 4,752 shares.
Venture capitalists Run Capital and Odysseus Investments, as previously disclosed by Moola, have meaningful stakes. Run Capital owns 47,528 preference shares, also valued at £0.0025 per share, while Odysseus owns 36,048 ordinary shares across two entities. Godfrey described Odysseus chief executive Christophe Reech as a ‘major investor’ in the business.
Founder Godfrey is a majority shareholder, with 404,000 shares. She said the business is gaining traction and has signed up a number of advisers, who are using Moola to service smaller clients.