ColCap Financial and Molo Tech have announced 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 lending products and services into the United Kingdom mortgage market, as it has done in Australia.
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.
Andrew Chepul, ColCap’s CEO, 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.”
Francesca Carlesi, Molo’s CEO, added: “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.”