Molo CEO Francesca Carlesi Resigns

Francesca Carlesi, co-founder and CEO of digital mortgage lender Molo, has announced her resignation. This comes seven months after Molo was acquired by Sydney-based non-bank mortgage lender, ColCap Financial.

Transforming the UK Mortgage Industry

Since its inception in 2018, Molo has been instrumental in redefining the UK mortgage industry. Under Carlesi’s leadership, the company has originated over £300m in online mortgage loans. The company has grown significantly, expanding to a team of more than 60 and raising over £800m in debt and equity funding.

A Period of Transition

Carlesi expressed her pride in the company’s achievements and indicated that she believed it was the right time to hand over leadership as she seeks out new opportunities. She extended her gratitude to the Molo team, investors, partners, customers, and ColCap, who she trusts to take the company to new heights.

In March, following the commencement of a strategic partnership between Molo and ColCap in 2022, ColCap acquired an 80% shareholding in Molo. Andrew Chepul, ColCap Financial CEO and Molo chair, praised Carlesi for her role in building a business that continues to challenge the UK mortgage market. He expressed enthusiasm about the acquisition, stating that the intent was to supercharge growth and build on the combined strengths and trajectory of both companies.

Future Leadership

Carlesi’s departure from Molo is set for November 25. She will continue to provide support during the transition period, and Chepul will serve as executive chairman in the interim while the search for a new CEO commences.