"We are eager to enhance our offering to customers and brokers by introducing even more innovative lending solutions and further streamlining the mortgage process."
- Matt Kimber, CEO of Molo
ColCap Financial has acquired the remaining 20% of shares in UK mortgage lender Molo.
This follows ColCap’s March 2023 purchase of an 80% shareholding in Molo, following an initial strategic partnership in 2022.
Molo, which launched in 2018, will continue to operate under its current management team, saying it plans to capitalise on its growth potential with the assistance of ColCap’s funding and mortgage product expertise.
ColCap is a Sydney-headquartered privately owned non-bank lender specialising in residential mortgage loans. ColCap was founded in 2006 and currently has a loan portfolio in excess of $15.0 billion.
ColCap’s co-founder and CEO Andrew Chepul, 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.”
Matt Kimber, CEO of Molo, commented: “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.”
