Online investment manager Moola has slashed its minimum investment from £200 to £50.
The company, led by former Brooks Macdonald head of investment strategy Gemma Godfrey (pictured), is also offering £50 to the first 500 investors who sign up to the service in August.
Moola soft launched in beta testing earlier this year, but is now fully up and running. It offers a range of risk-graded portfolios in different tax wrappers.
Godfrey explained: ‘We've had members run through the online journey and typically our whole investing process takes around 10 minutes. 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).
‘If you're one of the first 500 members to invest in August and put to work at least £50 a month, we'll add £50 to your account.’
In May, the firm signed up with Winterflood to offer fractional dealing and last December it signed an exclusive agreement with BlackRock to populate its portfolios with iShares exchange traded funds (ETFs).