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Molo Finance CEO Carlesi to depart

  • 09/10/2023
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Molo Finance CEO Carlesi to depart
Francesca Carlesi (pictured), co-founder and chief executive of Molo, will step down from her role on 25 November, with Andrew Chepul, CEO of investor ColCap Financial serving as interim executive chairman.

Chepul will operate in the role while a “broader search for a new CEO begins”, the company said.

Carlesi launched Molo Finance in 2017 and during that time the firm had “grown significantly” and delivered online buy-to-let mortgage and developed a white-label solution that allows financial firms to offer online mortgages by licensing its technology platform.

She was previously at Deutsche Bank for around three years in various senior roles including managing director for chief of staff and global head of regulatory affairs.

Before that, she was group CEO for Intesa Sanpaolo in Milan, Italy, and has also held senior roles at Barclays and McKinsey and Company.

ColCap Financial bought an 80 per cent share in the business in March this year, with Molo having partnered with the firm in September last year to re-enter the buy-to-let market having temporarily suspended lending in April of 2022 due to capital market uncertainty.

Molo Finance went onto resume buy-to-let lending in October last year with fixed variable and tracker rate deals and has since introduced a 24-hour remortgage approval process, made a number of product updates and updated its lending criteria.

The lender said that the investment into Molo was a “significant milestone in Molo’s history, strengthening Molo’s position in the market and opening up new possibilities for international growth and innovation”.

The firm said that the decision to step down “reflects her confidence in Molo’s future following the successful integration of the Company within the ColCap Group”.


Molo: ‘An incredible journey’

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.”

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.”

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