Since its establishment as a lender in 2009 , 1st Stop Group, which has offices in Blackpool and Durham, has undergone significant growth across its Secured Lending, Car Finance, Personal Loan and Home Improvement Products. This has been driven by its detailed understanding and experience of the near prime segments of its chosen markets. The investment by Pollen Street Capital will allow 1st Stop Group to continue to develop and grow its lending book whilst also investing in the infrastructure and platform to deliver an excellent level of customer service alongside the detailed and thorough underwriting to build a high quality lending business.
1st Stop Group will be the second investment by Pollen Street’s third fund, which reached a first close in March 2016 and is targeting businesses where there is opportunity to deliver transformational growth by leveraging Pollen Street’s extensive experience and professional network across the financial services sector. Pollen Street Capital is a private equity fund manager focussed on investing in businesses in the financial and business services sector and has invested over £1.2bn in a range of businesses across all stages of development.
Commenting, Alex Mollart, Founder and Chief Executive of 1st Stop Group, said;
“ We are delighted to announce this investment by PSC Fund III. We envisage significant growth in our chosen markets and look forward to working closely with the Pollen Street team, who have a recognised track record in our market space, to deliver on our growth aspirations.
Commenting , Lindsey McMurray, Managing Partner of Pollen Street Capital, said,
“We are very excited to have the opportunity to back Alex, Dave and the rest of the team at 1st Stop to continue the rapid growth they have achieved in their chosen specialist markets. 1st Stop possesses the qualities Pollen Street looks for in its investments, with an entrepreneurial and driven management team, a differentiated strategy and value proposition, and the clear potential to be a market leading business. We look forward to working with the team to achieve our combined vision for the business”