Friday, 29th July 2022: We are thrilled to announce our strategic partnership with ColCap Financial (‘ColCap’), a leading Australian mortgage lender that is partnering with Molo to expand into the UK.
The partnership includes a broader strategic alliance between the two lenders that will allow ColCap to expand into the UK market as the first step of their international strategy, following several years of successful growth in Australia. As part of the agreement, ColCap has made a strategic investment into Molo and will provide it support in further expanding its access to mortgage funding to restart and accelerate its growth into the buy to let market. Thanks to the new partnership Molo is looking to relaunch back into the market soon with a new innovative product range for its buy-to-let products, after having suspended its products since April 2022, due to capital markets volatility and its impact on some of Molo’s former funders.
Speaking about the partnership, Francesca Carlesi, CEO and Co-Founder of Molo, said:
“We are delighted to be partnering with ColCap, who understands our strategy and tech-led proposition. They are recognised as one of the leading distributors in the mortgage industry in Australia with more than 16 years experience and with a track record of delivering innovative competitive products to customers. This partnership will integrate ColCap’s product innovation with Molo’s innovative tech platform, and strengthen our offering further as we work to relaunch back into the market“.
Andrew Chepul, CEO of ColCap adds
“We are excited to move into the UK and to deliver new lending products in the marketplace, as we have done in Australia. Our partnership with Molo fits perfectly within our strategic plan. We believe our shared values, synergies, and combined strengths will enable accelerated growth for both businesses.”
For more details, read the full press release here.
About Molo Finance
Molo is an award-winning Fintech start-up that is transforming the mortgage industry as Europe’s only digitally native mortgage lender. Since it launched in 2018, the start-up uses technology to deliver simpler and faster online mortgage lending – making homeownership easier for everyone. Molo’s primary goal is to fix what is fundamentally broken in the mortgage market: cumbersome, inefficient, and slow processes, which become fast, real-time decisions. Since its launch, Molo has led change in the UK mortgage industry, delivering online buy-to-let mortgage loans to customers with both speed and efficiency.
Find out more at Molo
About ColCap Financial
Established in 2006, ColCap is a leading and privately owned non-bank lender in Australia. ColCap currently offers primarily Australian residential mortgage loans to prime borrowers through wholesale, retail, and broker distribution channels under the Origin Mortgage Management Services (“Origin”), Homestar Finance (“Homestar”), Granite Home Loans (“Granite”) and brands respectively.
ColCap has a loan portfolio in excess of A$11 billion and employs over 250 staff located in Australia and the Philippines, with its head office in Sydney. Find out more at www.colcap.com.au
Press Contacts
Myyu Duong, Molo
press@molofinance.com
Tanya Manyan, ColCap
tanya.manyan@colcap.com.au
