{"id":19094,"date":"2024-05-13T11:59:52","date_gmt":"2024-05-13T11:59:52","guid":{"rendered":"https:\/\/stg-evopublic-testupdates.kinsta.cloud\/public\/?p=19094"},"modified":"2024-05-13T11:59:52","modified_gmt":"2024-05-13T11:59:52","slug":"evolution-funding-acquires-creditas","status":"publish","type":"post","link":"https:\/\/www.evolutionfunding.com\/public\/evolution-funding-acquires-creditas\/","title":{"rendered":"Evolution Funding Accelerates Growth with Acquisition of Creditas"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"19094\" class=\"elementor elementor-19094\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4c8114e2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4c8114e2\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-84782ea\" data-id=\"84782ea\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5d628bbc elementor-widget elementor-widget-text-editor\" data-id=\"5d628bbc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><\/p>\n<p>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&#8217;s growth trajectory and underscores its commitment to expanding dealer access to the group\u2019s finance platform, technology, and broad lender panel.<\/p>\n<p><\/p>\n<div class=\"wp-block-spacer\" style=\"height: 30px;\" aria-hidden=\"true\">&nbsp;<\/div>\n<p><\/p>\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"541\" class=\"wp-image-19095\" src=\"https:\/\/www.evolutionfunding.com\/public\/wp-content\/uploads\/2024\/05\/EF-PR-Photo-web-1024x541.jpg\" alt=\"Acquisition Announcement May 24\" srcset=\"https:\/\/www.evolutionfunding.com\/public\/wp-content\/uploads\/2024\/05\/EF-PR-Photo-web-1024x541.jpg 1024w, https:\/\/www.evolutionfunding.com\/public\/wp-content\/uploads\/2024\/05\/EF-PR-Photo-web-300x158.jpg 300w, https:\/\/www.evolutionfunding.com\/public\/wp-content\/uploads\/2024\/05\/EF-PR-Photo-web-768x406.jpg 768w, https:\/\/www.evolutionfunding.com\/public\/wp-content\/uploads\/2024\/05\/EF-PR-Photo-web-1536x811.jpg 1536w, https:\/\/www.evolutionfunding.com\/public\/wp-content\/uploads\/2024\/05\/EF-PR-Photo-web.jpg 2000w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><p><\/p>\n<figcaption class=\"wp-element-caption\">Photo shows l to r: Lee Streets (Evolution CEO), Katie Hayes (Evolution COO), Andy Shaw (Creditas MD), Teresa Jagger (Creditas Risk &amp; Compliance Director), and Phil Kerr (Creditas Finance Director).<\/figcaption>\n<\/figure>\n<p><\/p>\n<div class=\"wp-block-spacer\" style=\"height: 30px;\" aria-hidden=\"true\">&nbsp;<\/div>\n<p><\/p>\n<p>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. &nbsp;<\/p>\n<p><\/p>\n<p>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.<\/p>\n<p><\/p>\n<p>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\u2019s platform, technology, and digital capabilities.<\/p>\n<p><\/p>\n<p>Lee Streets, CEO of Evolution Funding, said:<\/p>\n<p><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><\/p>\n<p>\u201cThe acquisition of Creditas is highly complementary. With little overlap between Creditas and Evolution Funding Group\u2019s dealer partners, it will grow Evolution\u2019s footprint with independent retailers. At the same time, our technology, processes, and partnerships will enhance Creditas\u2019 proposition for dealers, maximising its potential and driving long-term growth across the group.<\/p>\n<p>\u201cWe have been impressed with Creditas\u2019 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.\u201d<\/p>\n<p><\/p><\/blockquote>\n<p><\/p>\n<p><\/p>\n<p>Andy Shaw, Managing Director of Creditas, said:<\/p>\n<p><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><\/p>\n<p>\u201cI 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 \u2013 it&#8217;s going to open a lot of new options for the benefit of our dealers.\u201d<\/p>\n<p><\/p><\/blockquote>\n<p><\/p>\n<p>Creditas were advised by Peter Williams, David Kendrick, and Fraser Pirie of UHY Hacker Young (Manchester) LLP.<\/p>\n<p><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>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&#8217;s growth trajectory and underscores its commitment to expanding dealer access to the group\u2019s finance platform, technology, and broad lender panel. Founded in 2007 by Andy Shaw and headquartered in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19095,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-19094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Evolution Funding Accelerates Growth with Acquisition of Creditas<\/title>\n<meta name=\"description\" content=\"Evolution Funding announces the acquisition of motor finance broker Creditas. Find out more about this exciting move.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.evolutionfunding.comevolution-funding-acquires-creditas\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Evolution Funding Accelerates Growth with Acquisition of Creditas\" \/>\n<meta property=\"og:description\" content=\"Evolution Funding announces the acquisition of motor finance broker Creditas. 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