Evolution Money grows headcount to 200-plus after £100m injection

Evolution Money, part of the Darwin Group, is expanding its Manchester-based operations, with employee numbers set to surpass 200.

Celebrating its 29th placing in the 2016 Sunday Times Fast Track 100 – acknowledging its role as one of the fastest growing private companies in the UK – the business has announced 29 new roles.

The announcement follows a £100m funding injection earlier in the year, when Evolution Money announced its intent for further growth both in terms of its financial product portfolio as well as its staff base.

The business offers secured and unsecured loans to customers through both Evolution Money and sister brand Progressive Money, having been established following a tightening of lending criteria following the post-2008 recession.

They work with consumers that are no longer deemed eligible for lending by the bigger institutions as credit ratings are no longer considered good enough to secure High Street personal loans.

Since its launch in 2011, the group has built up a substantial loan portfolio, lending in excess of £140m, with loan agreements based on more than an isolated credit score as has become the norm with a number of organisations.

As part of its current recruitment drive, the business is looking to fill vacancies in newly established director-level roles all the way through to entry level and management roles in business development, compliance and quality, customer services and finance. The business currently employees over 170 people at its Portland Street office.

Mat Beaver, managing director of Darwin Group, said: “We are entering an exciting new phase following our funding injection earlier this year, delivering upon our stated intention to accelerate our growth plans, becoming a leading UK consumer finance brand that offers an alternative to the high-street banks and other loan providers.

“It has always been our intention to bolster our Manchester headquarters and build a team that is based in the city where we were founded.

“We have invested in a state-of-the-art office, staff learning and development as well as a series of employee benefits to support colleagues both at work and at home and we are looking forward to welcoming new faces and growing our business further.”