Ashcombe Advises Multiply AI on a strategic investment by Irish Life
Ashcombe is pleased to announce that is has advised Multiply AI Limited (“Multiply”) on a strategic investment by Irish Life Financial Services Ltd (“ILFS”).
Multiply is the only fully automated financial advice app in the UK, providing holistic advice to customers who receive personal recommendations in relation to their savings, mortgage, investment, and pension needs that account for their overall circumstances, rather than being limited to one or more specific needs. The Multiply Advice Engine, Multiply Advice Supervisory System and Multiply Account Ecosystem are powerful technology layers that generate advice, manage risk, and execute transactions across clients’ lifetime needs. ILFS is part of Irish Life Group Ltd. (“Irish Life”), one of Ireland’s leading life and pensions companies with over 1.4m customers. Irish Life has been part of Great-West Lifeco Inc., a major Canadian insurance, retirement, and investment services group, since 2013.
Vivek Madlani, Multiply’s co-founder and CEO, said:
“We are excited about the partnership with Irish Life, whose market reach, product, and customer experience will be very valuable and enable us to achieve the significant scale and impact we built our technology for. We are excited to work with more partners in the UK and elsewhere to launch their digital & hybrid advice propositions to bring financial advice to as many people as possible. We have had an excellent relationship with Ashcombe, who guided us through a complex contractual negotiation and execution process, culminating in a great outcome for all parties.”
Andreas Wesemann, Partner at Ashcombe, commented:
“It was a pleasure to work with Multiply on this transaction. We are very confident that its compelling customer proposition, which is based on a unique technology capability, will become the reference point in the retail financial advice space as clients seek a platform that can cover all lifetime needs in a bespoke, targeted way. The partnership with Irish Life will be a great catalyst for this vision.”