Evolution Funding achieves £1bn finance advances

Evolution Funding has achieved a milestone of transacting £1bn in motor finance advances, with total platform transactions of more than £1.5bn this year.

The achievement comes seven months after the business posted a record result in March of £117.4m advances.

Lee Streets, chief executive of Evolution Funding, said: “Reaching this £1 billion 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 £1 billion 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.

“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.”

Earlier this year (March 2022), Evolution Funding partnered with Codeweavers to help dealers deliver a ‘more streamlined’ finance journey to customers.