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Molo raises GBP 266 mln in series A funding round

Friday 9 October 2020 14:29 CET | News

UK-based digital mortgage lender Molo has raised GBP 266 mln in debt and equity funding, completing its series A equity funding round.

The investment was led by global financial services firm Macquarie Group (Macquarie) and Patron Capital, a pan-European institutional investor focused on property-backed investments. The equity round was led by Yabeo, an international venture capital firm and supported by existing shareholders Andenes Investments, GPS Ventures and others.

The capital raise comes after a first tranche of GBP 10 mln for the Series A round that closed in January 2020. The new funding will be used to accelerate the company’s growth through additional online lending and investment in its proprietary technology and new product propositions.

The company reports it has experienced higher volumes of online mortgage applications post COVID-19, which points to the growing popularity of digital lending.

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Keywords: Molo, funding, fintech, investment, equity round, venture capital, digital lending
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United Kingdom
This article is part of category

Banking & Fintech