The firm’s Evolve technology and digital customer journey is used at point of sale in dealerships, and also online during the process of researching or purchasing a used vehicle, to deliver brokered motor finance solutions from a panel of 34 funders. This helps dealers and customers secure vehicle finance with rapid online decisions and at competitive rates.
Image (L - R) - Andy Lyndon, Lawrence Dean (LDC), Tim Porter, Jeremy Levine, Lee Streets, Steve Weller (Evolution Funding)
Evolution brokered loan advances of over £430m in 2018 and employs over 200 people both at its headquarters in Chesterfield and with account managers supporting dealerships across the UK.
In February 2019, LDC announced an in investment in Evolution to back the existing management team. The partnership will support the firm’s expansion as it plans to invest further in its technology, digital capabilities and to scale the presence of both its Dealer B2B and B2C propositions.
The transaction completed on 2nd April 2019 following FCA approval.
Bringing a partner on board like LDC gives us not only the capital to accelerate our growth, but also the boardroom expertise to help us unlock the potential of our business. LDC understood our vision for the business from the off and shared the same ambition. This is a great outcome for our partners, customers and employees alike, and we’re hugely excited about our plans for growth.Lee Streets, CEO, Evolution Funding