Evolution Funding is the largest used auto finance marketplace in the UK

Investment type
  • Development capital
Exit type
  • Private equity sale
Exit date

July 2023

Re-investment date

July 2023

The Team
LDC Team

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.

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LDC understood our vision for the business from the off and shared the same ambition. This is a great outcome for our partners, customers and employees alike, and we’re hugely excited about our plans for growth.”

Lee Streets, CEO
Evolution Funding

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.

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We would like to thank the team at LDC for their support over the last four years, investment in the development of our technology platform, and for helping us to position Evolution at the leading edge of the market. We are excited for this next stage of Evolution’s journey as we continue to transform the motor finance market.”

Lee Streets, Founder and CEO


Best Service for Dealers

Car Finance Awards 2023

Car Finance Provider of the Year (independent lender)

Credit Strategy Awards 2023

Northern Tech Awards Top 100


Best Broker

Car Finance Awards 2023, 2022, 2021, 2019, 2018, 2017, 2016 & 2015

Award for Innovation

Car Finance Awards 2021

Best Direct Consumer Proposition

Car Finance Awards 2019 & 2021

Best Specialist Car Finance Provider

Car Finance Awards 2019

Northern Tech Awards Top 100