Dragonfly Property Finance is set to rebrand as Octopus Property in the New Year.

Whilst the exact date of the rebrand is yet to be confirmed the short and medium-term lender has confirmed its intention to move its brand in line with parent firm Octopus group.

Mark Posniak, managing director of Dragonfly Property Finance, said: “Octopus has been instrumental to Dragonfly’s success ever since it provided the business with its first funding line back in 2009.

“We have always been part of Octopus and the rebrand cements this relationship with the broader Octopus group.

“We firmly believe that the strength of the Octopus brand will put us in an even stronger market position helping us to accelerate our growth in the years ahead.

“We have big plans for the future and while the Dragonfly brand is strong, we feel we will be able to achieve them much sooner by being part of Octopus Property.”

Investment firm Octopus has in excess of £5.5bn in funds under management and leading positions in several specialist sectors.

Following its rebrand Octopus Property will join Octopus Investments, Octopus Healthcare, Octopus Ventures as part of Octopus’ rapidly expanding portfolio.

Simon Rogerson, CEO of Octopus, added: “Dragonfly is a first class business supported by a talented team and it continues to make a significant contribution to the UK property market.

“Building on Dragonfly’s strong track record, Octopus is now an active investor in the wider property market and the launch of the Octopus Property business in 2016 marks our commitment to the sector over the coming years.

“Octopus has grown rapidly in the past year expanding its investment platforms as we continue to identify those markets where we believe we can really make a difference to our customers while delivering returns to our investors.

“Property remains a key area of opportunity and we looking forward to taking a leading role in the sector.”

Dragonfly was established in 2009 and has completed more than £1.6bn of loans with redemptions in excess of £1bn.