ColCap Financial Limited has acquired the remaining 20% of shares in Molo Tech Limited, making the digital mortgage lender a wholly-owned subsidiary of ColCap.
This followed ColCap’s initial purchase of an 80% shareholding in Molo in March 2023 after the two companies originally entered into a strategic partnership in 2022.
Molo will continue to operate under its current management team and focus on the digital origination of mortgage lending products.
The company plans to capitalise on its growth potential with the assistance of ColCap’s depth of funding and mortgage product expertise.
Andrew Chepul, co-founder and CEO at ColCap, 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 said: “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.”
