Digital mortgage lender Molo Finance has announced that its co-founder and CEO, Francesca Carlesi, has decided to step down from her role.

The departure of Carlesi will take effect on 25 November and she will continue to be available to support the transition process.

Since its launch in 2018, Molo has grown significantly, delivering online buy-to-let mortgage loans and also launching its “mortgage as a service” proposition in the UK, developing a white-label solution that empowers financial institutions to offer online mortgages through licensing Molo's technology platform.

Under Carlesi’s leadership, Molo has changed the way people access mortgages by using its proprietary technology platform to deliver simpler and faster online mortgage lending.

Commenting on her departure, 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.”

In March this year, ColCap Financial, an Australian privately owned non-bank mortgage lender, acquired an 80% shareholding in Molo after the two companies entered a strategic partnership in 2022.

CEO of ColCap, Andrew Chepul, will serve as executive chairman in the interim while a broader search for a new CEO begins.

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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