Fintech firm MQube says it plans to separate its technology and lending arms and “focus solely on its core technology business, positioning its proprietary AI-native platform for expansion across global markets”. 

It adds that as a result of the move, the business adds that MPowered will no longer accept new mortgage applications after 5:30pm on 28 Tuesday October. 

“All existing mortgage customers and MPowered broker-partners will continue to be fully supported and MPowered are proactively contacting customers to keep them informed,” MQube adds. 

MQube, launched in 2019, plans to appoint a corporate advisor to carry out the sale of MPowered, which was founded in 2021. 

MQube chief executive Stuart Cheetham (pictured, left)  says: “Our focus now is on making that technology available to lenders around the world.  

“This move will enable both businesses to achieve their full potential.”