A Trailblazing Night at The Car Finance Awards 2024 for Evolution Funding

Evolution Funding wins ‘Best Broker,’ ‘Best Service for Dealers,’ and ‘Best Technology Partner’ at the Car Finance Awards 2024.

Evolution Funding wins Best Broker

This marks the ninth consecutive year that Evolution Funding has won ‘Best Broker’. This award came from an entry that focused on 2023’s global investment from Carlyle, launching Evolution Funding into a new era with a redefined Purpose, Vision, and Mission, equipping us with the tools to connect the auto finance ecosystem with our award-winning technology.

Evolution Funding has been awarded ‘Best Service for Dealers’ for a second consecutive year. This entry focused on our Signature team and their achievement of £68.1m totalled advances in 2023, demonstrating our unique proposition in the high-value vehicle market.

Winning ‘Best Technology Partner’ emphasises our strong partnership with our sister company, Click Dealer. Together, we bring ClickFinance to life and transform an intricate car finance process into a streamlined, customer-focused journey.

Best Technology Partner judges comments

The awards were held on the 15th of May in The Monastery, Manchester. Surrounded by astounding architecture, The Car Finance Awards was a night to unite with like-minded businesses in an ever-changing industry, highlighting and representing the achievement of best practices and reaching new heights.

We want to thank Credit Strategy for hosting such an incredibly successful night.

Click here to view the full list of winners

Evolution Funding Accelerates Growth with Acquisition of Creditas

Acquisition Announcement May 24

Evolution Funding has exchanged contracts to acquire motor finance broker Creditas Financial Solutions, subject to FCA approval. This strategic move marks another milestone in Evolution Funding’s growth trajectory and underscores its commitment to expanding dealer access to the group’s finance platform, technology, and broad lender panel.

Acquisition Announcement May 24

Photo shows l to r: Lee Streets (Evolution CEO), Katie Hayes (Evolution COO), Andy Shaw (Creditas MD), Teresa Jagger (Creditas Risk & Compliance Director), and Phil Kerr (Creditas Finance Director).

Founded in 2007 by Andy Shaw and headquartered in Leeds, Creditas employs 60 staff and oversees four Appointed Representatives. Taking an innovative go-to-market approach, Creditas has leveraged commercial advantage and market share by uniquely championing an appointed representative regulatory business model in motor finance.  

Creditas will continue to operate under its own brand as a subsidiary of Evolution Funding Group and with its existing management team at the helm.

Evolution has completed several acquisitions as part of its expansion plan, including automotive Software-as-a-Service provider Click Dealer in 2021 and the motor finance broker Motion Finance in 2023. Evolution secured majority investment from global private equity firm Carlyle in July 2023, leading to significant reinvestment in the company’s platform, technology, and digital capabilities.

Lee Streets, CEO of Evolution Funding, said:

“The acquisition of Creditas is highly complementary. With little overlap between Creditas and Evolution Funding Group’s dealer partners, it will grow Evolution’s footprint with independent retailers. At the same time, our technology, processes, and partnerships will enhance Creditas’ proposition for dealers, maximising its potential and driving long-term growth across the group.

“We have been impressed with Creditas’ approach to motor finance, the focus they put on building relationships and doing the right thing for consumers, an ethos at the heart of our own operations. We look forward to working closely with Andy and the team to identify further opportunities and harness our mutual strengths.”

Andy Shaw, Managing Director of Creditas, said:

“I am delighted we have joined part of the Evolution Group. Having built Creditas up over the last 17 years now is the time to become part of a much larger entity. We are looking forward to working with Lee and his team moving forward – it’s going to open a lot of new options for the benefit of our dealers.”

Creditas were advised by Peter Williams, David Kendrick, and Fraser Pirie of UHY Hacker Young (Manchester) LLP.