First £100m month for Evolution Funding

Evolution Funding has written over £100 million of advances in a month for the first time. The record advances delivered during March have been described as a “massive milestone” for the motor finance broker and technology provider.

The business, which will celebrate 20 years of trading this year, emerged from 2021 with strong year-on-year growth in advances of 178%.

Lee Streets, Evolution Funding chief executive said: “2021 saw an impressive performance for Evolution, with £835m in loan advances and nearly 67,000 vehicles funded. Achieving this £100 million milestone sets us up for brokering £1 billion of motor finance in 2022.

It only seems like yesterday that we were celebrating writing 1000 cases in a month for the first time. Achieving £100 million advances has been an incredible effort from every team and individual within the company and we thank everyone wholeheartedly for their continued focus and determination.”

Chris Coverdale, Evolution Funding Group Sales Director added: “We have been consistent in delivering new technology and integrated digital and financial solutions to the motor finance market year on year. This strategy has paid dividends in an industry where digitisation has been accelerated during the pandemic and regulatory changes require an innovative response in support of our dealers and partners.

I am immensely proud of what we have achieved. I remember the first time we set £100M advances as an annual target and there were some people who told us it was impossible!”

Image shows (l to r): Sam Osborn, Head of Compliance; Angela Larkin, Head of HR; Katie Hayes, Chief Operating Officer; Keith Bell, Sales Director; Adam Small, Head of Operations