Francesca Carlesi steps down as CEO of digital mortgage lender Molo
Francesca Carlesi, co-founder and CEO of UK-based digital mortgage lender Molo is to step down from her role, effective 25 November 2023.
Francesca Carlesi, co-founder and CEO of Molo, to step down
Her decision to step down comes six months after Australian non-bank mortgage lender ColCap acquired an 80% shareholding in Molo. The pair had forged a strategic partnership in July 2022 in an attempt to capitalise on the UK’s £310 billion mortgage market.
Launched in 2018, Molo specialises in online buy-to-let mortgage loans and mortgage-as-a-service, a white-label solution for financial institutions seeking to offer online mortgages, and says that under Carlesi’s leadership, it has “revolutionised” mortgage access for borrowers in the UK.
Speaking on her departure, Carlesi explains that despite the “incredible journey” of building the company, “this is the right time for me to pass the torch to new leadership while I explore new opportunities and challenges”.
Adding to this, Andrew Chepul, financial CEO of ColCap, claims that Molo “continues to challenge the status quo of the UK mortgage market”, and says that ColCap’s acquisition of the company “was all about supercharging growth, and we look forward to continuing to build on our combined strengths and trajectory”.
Chepul is to serve as interim executive chairman of Molo upon Carlesi’s departure next month while the company conducts its search for a more permanent replacement.
