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ColCap Acquires a Majority Shareholding in UK Digital Mortgage Lender Molo
ColCap Financial Limited (“ColCap”) and Molo Tech Limited (“Molo”) announced today that ColCap has acquired an 80% shareholding in Molo.
ColCap’s investment follows the strategic partnership ColCap and Molo entered into last year and is part of ColCap’s strategy to deliver innovative lending products and services into the United Kingdom (“UK”) mortgage market, as it has done successfully in Australia.
Molo is a London-based digital mortgage lender which launched in 2018 that has pioneered technological innovation in the mortgage sector. Molo uses its proprietary technology platform to offer its customers faster, better and easier access to mortgage loans via a direct online channel.
ColCap will leverage Molo’s digital expertise whilst also accelerating its international expansion into the £310 billion UK mortgage market. Molo will continue to operate under the current management team as an independent company within the ColCap group, benefiting from ColCap’s depth of funding and mortgage product expertise to capitalise on its growth potential.
ColCap’s Co-Founder and Chief Executive Officer (“CEO”), Andrew Chepul said: “We are excited to welcome Molo to the ColCap group. Through a combination of Molo’s digital distribution capabilities and ColCap’s funding and mortgage product structuring expertise, we look forward to making significant inroads into the UK’s large addressable market.”
Molo’s Co-Founder and CEO, Francesca Carlesi, said: “Molo has always been focused on using technology to simplify the mortgage process and make it more accessible to customers. This transaction marks the start of an important new chapter for Molo, allowing us to expand our reach and accelerate our growth. Together we will continue to innovate our products and deliver exceptional levels of customer service.”
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