Evolution Funding: driving growth at motor finance technology firm

Backing an ambitious team

In 2019 the management team, led by founder and CEO Lee Streets, chose to partner with LDC.

The partnership supported the firm’s expansion as it invested further in its technology and digital capabilities to scale the presence of its Dealer B2B and B2C propositions.

Driving growth

In addition to organic growth, Evolution also completed two key strategic acquisitions: Click Dealer in July 2021 and Motion Finance in May 2023. Click Dealer is highly complementary to Evolution’s existing services and supports its growth strategy to enhance its technology, digital capabilities, and SaaS proposition. Motion Finance has allowed Evolution to further grow its core market share in independent motor dealers.

Over the last four years, the business has almost quadrupled the total volume of advances it enables to reach £2bn. The business has also doubled its headcount.

A continued partnership

In July 2023, LDC agreed to exit its investment, and will be reinvesting alongside global investment firm Carlyle and Evolution’s founders and management team.

With a minority investment, LDC continues to support the next phase of the company’s growth, which will include expanding the range of dealers’ product offerings and exploring further M&A.