"ColCap’s acquisition of Molo was all about supercharging growth, and we look forward to continuing to build on our combined strengths and trajectory."
Francesca Carlesi, co-founder and CEO of digital mortgage lender Molo, has announced her decision to step down from the role.
Since its launch in 2018, the company has launched its online buy-to-let mortgage offering alongside its 'mortgage as a service' proposition in the UK, developing a white-label solution that enables financial institutions to offer online mortgages through licensing Molo's technology platform.
In March this year ColCap Financial, an Australian non-bank mortgage lender, acquired an 80% shareholding in Molo after the two companies entered a strategic partnership in 2022.
The departure of Francesca Carlesi will take effect on 25th November 2023, and she will continue to support the transition process. Andrew Chepul, CEO of ColCap, will serve as executive chairman in the interim while a broader search for a new CEO begins.
Francesca Carlesi said: "It has been an incredible journey building Molo from the ground up and I'm immensely proud of what we've accomplished. I want to extend my heartfelt thanks to the remarkable Molo team, our investors, business partners, customers and above all, ColCap, who believed in us and will now chart the course to new heights for the company. This is the right time for me to pass the torch to new leadership while I explore new opportunities and challenges."
ColCap Financial CEO and chair of Molo, Andrew Chepul, added: “I would like to thank Francesca for the excellent business she has built, which continues to challenge the status quo of the UK mortgage market. ColCap’s acquisition of Molo was all about supercharging growth, and we look forward to continuing to build on our combined strengths and trajectory.”
