RVU snaps up online mortgage broker Mojo
RVU is strengthening its position in the UK online mortgages sector with the acquisition of Manchester-based start-up Mojo Mortgages.
Mojo was launched three years ago and has over 60 staff
RVU, which owns Uswitch, Confused.com and Money.co.uk, sees Mojo as a way to deepen its presence in mortgage intermediation and extend across all customer touch points, from the moment customers seek information and advice to applying and securing a mortgage.
Mojo is a free online mortgage broker, delivering personalised mortgage recommendations through a hybrid of smart tech and human mortgage experts. One feature is Mortgagescore, an app designed to help first-time buyers become “mortgage ready”.
Tariq Syed, CEO of RVU, says: “Owning every part of the process means we can improve [customer] experience from start to finish.”
He adds digitalisation has been “sluggish” in the mortgage sector and feels the addition of Mojo will provide RVU with “the teams and the tools to supercharge the process and give consumers the experience they deserve”.
Mojo Mortgages was launched three years ago and has over 60 staff. Richard Hayes, co-founder and CEO, sees this as a “significant next step”, bringing the opportunity to scale up its offering. At present, it claims around 70,000 people a month use Mojo to gain a personalised mortgage recommendation.
RVU was formed in May 2018 and is jointly owned by US-based Red Ventures – a global group of brands, digital platforms and strategic partners – as well as Silver Lake, GIC and PSP Investments.
