Molo CEO Francesca Carlesi steps down

Francesca Carlesi, co-founder and CEO of Molo, is stepping down from her role.

The decision comes seven months after the digital mortgage lender was acquired by ColCap Financial, a Sydney-based non-bank mortgage lender.

Since launching in 2018, Molo has helped reshape the mortgage industry in the UK, originating more than £300m in online mortgage loans under Carlesi’s leadership.

The company has grown to a team of more than 60, raising more than £800m of debt and equity and debt funding.

“It has been an incredible journey building Molo from the ground up and I'm immensely proud of what we've accomplished,” Carlesi said.

“This is the right time for me to pass the torch to new leadership while I explore new opportunities and challenges,” she added.

Carlesi extended her thanks to the Molo team, investors, partners and customers as well as ColCap, which she said will now “chart the course to new heights” for the company.

ColCap acquired an 80 per cent shareholding in Molo in March following the start of a strategic partnership between the two companies in 2022.

“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 financial CEO and Molo chair Andrew Chepul said.

“ColCap’s acquisition of Molo was all about supercharging growth, and we look forward to continuing to build on our combined strengths and trajectory.”

Carlesi will leave Molo on 25 November, providing support through the transition process, and Chepul will serve as executive chairman while the search for a new CEO begins.