Richard Hayes/Mojo Mortgages
Uswitch and Confused.com owner snaps up Mojo Mortgages
RVU now owns brands that sit across the entire mortgage process, from seeking advice and guidance to applying, securing and switching mortgage providers.
We were promised a jam-packed year of fintech M&A and so far 2021 has not disappointed.
RVU, owners of Uswitch, Confused.com and Money.co.uk, has just announced its plan to acquire Manchester-based Mojo Mortgages for an undisclosed amount.
The challenger mortgage provider is specifically designed to help first-time buyers get ‘mortgage ready’ and has won several awards for its innovative products, such as its app Mortgagescore.
“Three years ago, we started Mojo with a clear vision to make everyone feel more confident about finding a great mortgage deal. This significant next step in our journey makes that vision a reality on a scale we could have only dreamt of back then,” Richard Hayes, CEO and co-founder of Mojo Mortgages, said.
“We'll look to revitalise the UK mortgage ecosystem while creating remarkable digital experiences for both our colleagues and our customers. Alongside RVU, we'll be at the forefront of positive change for the UK mortgage market. We can't wait to get going.”
RVU’s bid for Mojo will help the firm delve deeper into the mortgage sector and help even more customers get the support they need from the moment they seek advice to securing a mortgage.
“Millions of mortgage seekers are coming to us through trusted sites like Money.co.uk, Uswitch and Confused.com. Owning every part of the process means we can improve their experience from start to finish. This is a unique fusion of capabilities, combining our growing audiences with the most advanced digital broker in the UK,” Tariq Syed, CEO of RVU, added.
“Digitalisation has been sluggish in the mortgage sector but together with Mojo we will have the teams and the tools to supercharge the process and give consumers the experience they deserve.”
The acquisition is still subject to regulatory approval.