Cheshire-based fintech Mojo Mortgages is set to be acquired by the owners of Uswitch and Confused.com, RVU.
Headquartered in Macclesfield, Mojo is a free online mortgage broker that delivers personalized mortgage recommendations through a mix of smart technology and employed mortgage experts.
The growing company with over 60 employees has won numerous industry awards for innovations such as Mortgagescore, an app designed to help first-time buyers prepare for the mortgage.
RVU operates the digital brands Uswitch, Confused.com and Money.co.uk, all of which give consumers the ability to compare and switch a range of utility and financial services products, including mortgages.
The Mojo acquisition agreement will allow RVU to delve deeper into mortgage brokerage, providing consumers with the entire path from finding information and advice to applying for and securing a mortgage.
Tariq Syed, RVU CEO, said, “Millions of mortgage seekers come to us from trusted sites like Money.co.uk, Uswitch and Confused.com. Owning every part of the process means we can improve your experience from start to finish. This is a unique fusion of skills that our growing audience combines with the most advanced digital broker in the UK.
“Digitization in the mortgage sector has been slow, but together with Mojo we will have the teams and tools to accelerate the process and give consumers the experience they deserve.”
Richard Hayes, Co-Founder and CEO of Mojo Mortgages, added, “We are very excited to be part of the RVU team and look forward to working with some amazing people and great household brands.
“We started Mojo three years ago with a clear vision to make everyone feel more confident in finding a good mortgage deal. This significant next step in our journey brings this vision to life to an extent that we could only dream of at the time. We will seek to revitalize the UK mortgage ecosystem while creating remarkable digital experiences for both our colleagues and our clients.
“Alongside RVU, we will be at the forefront of positive changes for the UK mortgage market. We can’t wait to get started. “
The transaction is subject to regulatory approvals and customary closing conditions.
