ColCap Financial has acquired the remaining 20% of shares in Molo Tech.
The digital mortgage lender is which is now a wholly owned subsidiary of ColCap.
This follows ColCap’s March 2023 purchase of an 80% shareholding in Molo; the two companies originally entered a strategic partnership in 2022.
Molo will continue to operate under its current management team and to focus on the digital origination of mortgage lending products in the UK. The company plans to capitalise on its growth potential with the assistance of ColCap’s funding and mortgage product expertise.
Andrew Chepul, ColCap’s co-founder and CEO, said: “Our acquisition of Molo marks a significant milestone in ColCap Group’s strategic direction, fusing UK industry expertise with ColCap’s established strength and unwavering support for the UK leadership team.
“With complete ownership and our longevity and experience as an organisation, we are dedicated to propelling Molo towards its full potential under the guidance of Matt Kimber as Molo’s CEO and Esther Morley as ColCap UK’s executive director and COO.”
Kimber added: “This further strengthening of our relationship with ColCap presents us with many exciting opportunities. With ColCap’s support, we will further enhance the service we provide to our customers and brokers.
“Our recent expansion into non-resident and expat buy-to-let lending shows our commitment to product innovation – and this is just the beginning. We are eager to enhance our offering to customers and brokers by introducing even more innovative lending solutions and further streamlining the mortgage process.”
