The Darwin Group, which provides loans to homeowners across the UK, has secured Â£ 100million in funding.
The facility was provided by Insight Asset Management and a UK-based private credit manager, who joined the Darwin group’s existing funding partners, NatWest and Shawbrook Bank.
The union has significant experience in supporting consumer credit lenders, with each institution sharing a common desire for the Darwin Group brands to increase their market share through organic growth as well as through product development. new and innovative.
Darwin Group offers secured and unsecured loans to its clients through its Evolution and Progressive Money brands. The company employs over 150 people in its central Manchester office.
Steve Brilus, Managing Director of Darwin, said: âWe are entering an exciting new phase of growth and I am delighted to have such forward-looking and supportive financial partners investing in our business. This funding provides the springboard for us to reach our ambitious goal of taking Evolution and Progressive Money to the next level.
âThe funding also provides the building blocks for other internal opportunities as the business grows from its Manchester base, allowing us to invest in all operational areas as well as training and development of the company. staff. “
The team was advised by the EY Financial Services corporate finance team.
Mat Beaver, Managing Director of Darwin, said: âWe are grateful to Nick Parkhouse and the Ernst and Young team for facilitating this transaction. They worked closely with us to understand our business and our plans, and supported us throughout the process. .
âOur vision is to be the market-leading specialty lender of choice for our clients with the ambition to have a broad portfolio of direct lending options that meet consumer needs. The investment allows us to invest in the tools, whether internal or external, to enable us to achieve this. “