Specialist consumer lender 1st Stop Group Limited has passed £200m of outstanding loans.
1st Stop Group – a portfolio company of Pollen Street Capital, the independent alternative asset investment management company – reached this milestone having undergone significant growth across its secured lending, car finance and personal loan products, lending over £100m in the last 12 months.
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.”
1st Stop Group said 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.