The new funding will be used to accelerate the company’s growth through additional online lending and investment in its technology and product propositions.
Molo has reported significantly higher volumes of online mortgage applications post-Covid, which it says points to the growing popularity of digital lending. In August and September alone, Molo’s pipeline of buy-to-let mortgage applications exceeded £500m.
Francesca Carlesi, CEO and co-founder of Molo, said: “Molo has reimagined the whole mortgage experience from scratch; we are applying the convenience and speed of today’s technology for today’s customers. Leveraging instant decisioning and real time data validation, customers can get certainty about their mortgage directly on their mobile, in minutes rather than weeks. This additional backing is a sign of trust in Molo, and we are proud to have reputable players like Macquarie, Patron and Yabeo on our team as we seek to revolutionize the mortgage market.”
