Maven VCTs deliver profitable exit on the sale of Mojo Mortgages

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Uswitch and owner completes acquisition of Mojo Mortgages, generating a profitable return for the Maven VCTs

Published: Dec 10, 2021
Focus: Growth Capital

We are delighted to announce that the Maven VCTs have concluded the sale of Mojo Mortgages to RVU, which is part of the Zoopla Property Group owned by the US private equity firm Silverlake, delivering a total return of between 1.5x and 1.7x*.

The Maven VCTs invested £3.76 million in total, over multiple rounds since February 2019, supporting Mojo’s ambitious growth plans and helping evolve its unique and intuitive platform, which provides an empowering experience for consumers looking for a new mortgage or associated insurance products.

Mojo is a disruptive mortgage broker deploying a hybrid ‘online’ and ‘advised’ model to generate sales and increase conversion. The Business provides a full market comparison of mortgage providers and manages the process via a sophisticated technology platform from mortgage application to completion. The company has more than 60 employees and has won numerous industry awards for innovations such as MortgageScore, an app designed to help first-time buyers get ‘mortgage ready’.

The sale to RVU, owner of the well-known consumer comparison sites, and Uswitch, will enable the enlarged group to go deeper into mortgage intermediation and own the full journey across all customer touch points, from the moment they seek information and advice, to applying and securing a mortgage.

*represents the average return across the Maven VCTs which may differ due to investment in different share classes

Posted in:
Growth Capital

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