Molo had partnered with ColCap in September last year to re-enter the buy-to-let market. This includes a strategic investment into Molo Finance and further support to increase access to mortgage funding.
The lender resumed buy-to-let lending in October with fixed, variable and tracker rate deals.
The digital lender temporarily suspended buy-to-let lending in April, pointing to capital market volatility and its impact on funders.
ColCap said that the move was part of its “strategy to deliver innovative lending products and services” into the UK.
The firm said that it would leverage Molo Finance’s digital expertise and accelerate its international expansion into the UK mortgage market.
Molo will operate under the current management team, which has Francesca Carlesi (pictured) as chief executive and founder, and act as an independent company within the ColCap group.
The lender will benefit from ColCap’s “depth of funding and mortgage product expertise to capitalise on its growth potential”.
‘An important chapter for Molo’
ColCap’s co-founder and CEO Andrew Chepul said “We are excited to welcome Molo to the ColCap group. Through a combination of Molo’s digital distribution capabilities and ColCap’s funding and mortgage product structuring expertise, we look forward to making significant inroads into the UK’s large addressable market.”
Carlesi added: “Molo has always been focused on using technology to simplify the mortgage process and make it more accessible to customers. This transaction marks the start of an important new chapter for Molo, allowing us to expand our reach and accelerate our growth.
“Together we will continue to innovate our products and deliver exceptional levels of customer service.”
