drives motor finance technology firm investment in £110m deal
Summary
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. It pulls real-time credit and valuations data into Evolve’s algorithms, automatically assessing each search with the lenders on its panel, to streamline the decision-making process and deliver compliant financing to customers. Evolution’s B2C proposition has expanded rapidly through its successful, established relationships with leading finance aggregator and eligibility platforms and white label brand partners. 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. Evolution Funding was advised by KPMG Corporate Finance in the Midlands (Khush Purewal, Si Heath, Taj Lalli), Mishcon de Reya and BDO.