NextGear Capital UK has won the title of Wholesale Funder of the Year at the International Auto Finance Network awards.

The judges of the industry event, held in London, praised NextGear Capital’s use of technology and its distinctive approach to used car inventory funding.

NextGear Capital’s managing director David Mercer (pictured) said: “A year on from our launch, this award and the recognition that it provides from our industry peers is a very strong affirmation for our service led strategy. We aimed to bring something new to the market to help dealers to increase their stock levels.

“The accessibility and flexibility of our approach enables dealers to get the stock they need where and when they want it. In today’s increasingly digital remarketing environment, where buyers are sourcing stock UK wide, our approach gives them access to the funds they need at the click of not just a mouse, but the swipe of a smartphone as well.

“Our success shows just how rapidly dealers of all sizes are embracing new technologies to enhance their own performance. I’m very proud of our team for their efforts over the last year and above all to our customers and partners for their on-going support.”

NextGear Capital provides finance for over 500 dealers, lending them over £150,000,000 over the last year to meet the growing demand from dealers to increase the quality and quantity of their used car stock.