1st Stop Group’s loan book passes £200 million mark
1st Stop Group Limited, the specialist consumer lender, is delighted to announce it has passed £200 million of outstanding loans.
1st Stop Group – a portfolio company of Pollen Street Capital, the independent alternative asset investment management company – reaches this milestone having undergone significant growth across its secured lending, car finance and personal loan products, lending over £100m in the last twelve months. This growth has been driven by a detailed understanding and experience of its markets and through a focus on 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 three 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, Investment Partner at Pollen street Capital, said:
“Pollen Street seeks 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 180 people across offices in Blackpool, Durham and Manchester and is authorised by the Financial Conduct Authority.
About Pollen Street Capital
The Pollen Street Capital Group is an independent alternative asset investment management company focused on the financial and business services sectors, with significant experience in specialty finance. It was established in 2013 and now manages c £2.7bn gross AUM across private equity and credit strategies on behalf of investors including leading pension funds, asset managers, banks and family offices from around the world. Pollen Street Capital has a team of 70+ professionals with offices in London and New York.
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