£1bn milestone puts motor finance broker in the fast lane
A Derbyshire-based motor finance broker and technology provider to the UK used car market has achieved £1bn in consumer advances in the calendar year to date, with the news coming after the firm posted a record £117.4m in advances back in March.
Evolution Funding says it has completed more than £1.5bn worth of transactions this year following a period of “exponential” growth.
The 20-year-old Chesterfield firm is now the largest motor finance broker in the country.
Lee Streets, chief executive of Evolution Funding, said: “Reaching this £1bn milestone is a proud moment for everyone in the business. This target was set when we launched our new vision, mission, and values in December 2019.
“Part of our mission was to intermediate £1bn in consumer advances via our platform. To have delivered this less than three years later is an incredible achievement. Considering we still have two more months to go, we will far exceed that goal in 2022.
“The last few years have seen us grow exponentially, and we successfully emerged from the pandemic in a strong market position. We have focused heavily on building out our technology proposition, as well as strengthening our internal teams right up to board level.”
Streets added: “My thanks go out to our amazing staff for their continued commitment and focus, along with those dealers and partners who have supported us over the years. We are about to head into our twentieth year of trading and this milestone gives us a great springboard for the next stage of our growth.”
