1st Stop Group announces its loan book has passed the £150 million mark on its second anniversary since equity investment from Pollen Street Capital.
On the second anniversary of a significant investment by Pollen Street, 1st Stop Group Limited, the specialist consumer lender, is delighted to announce it has passed £150 million of outstanding loans.
1st Stop Group reaches this milestone having undergone significant growth across its secured lending, car finance and personal loan products, lending £100m in the last twelve months. This growth has been driven by its detailed understanding and experience of its markets and through a focus on near prime consumers who are underserved by the larger mainstream competitors.
Commenting, Alex Mollart, Founder and Chief Executive of 1st Stop Group, said:
“We are excited to have achieved this milestone and recognise the valuable input from Pollen Street over the last two years, to enable us to grow the business in this way. We have ambitious plans for the future with a number of exciting products in development and look forward to working with Pollen Street to bring these to market.”
Matthew Potter, Partner at Pollen street Capital, said:
“We at Pollen Street seek out high quality partners, with the potential to grow their businesses and innovate in their chosen markets. 1st Stop Group are a fantastic example of this, and we are delighted with the progress they have made by hitting this landmark. We look forward to continuing to work together, and we are excited to reach the next milestone.”
About 1st Stop Group
1st Stop Group offers car finance loans, secured second charge mortgages and unsecured personal loans to UK customers, serving customers who are not able or not wishing to borrow from high street lenders. 1st Stop prides itself on its focus on excellent customer service and has a 98% positive approval rating from customers. 1st Stop employs 150 people across offices in Blackpool, Durham and Manchester and is authorised by the Financial Conduct Authority.