SYS-CON MEDIA Authors: Pat Romanski, Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel

News Feed Item

Car Loan 4U Announces £8 Million Investment from SEP

MACCLESFIELD, England, February 5, 2014 /PRNewswire/ --

Car Loan 4U, the UK's leading online car finance specialist, today announced an £8 million investment from leading UK venture capital firm, Scottish Equity Partners (SEP). The investment will enable Car Loan 4U to accelerate its growth and build on its position as the UK market leader.

     (Photo: http://photos.prnewswire.com/prnh/20140205/667871 )

Launched in 2006, Car Loan 4U provides a market-leading online service for consumers looking for car finance, and has overseen its most successful period of growth over the last 12 months.  

Turnover has grown by more than 75% to £11m and headcount has increased to 150 employees. The company hopes to more than quadruple its annual revenues over the next four years.  

The investment will be used to build the Car Loan 4U brand and implement and expand the capabilities of Car Loan 4U's advanced technology, creating a superior customer journey.  

Car Loan 4U CEO James Wilkinson commented: "The investment from SEP represents a landmark for Car Loan 4U and will be invaluable in helping us continue our ambition of revolutionising the market, by transforming the way consumers take out car finance online.

"It comes at an exciting time in the company's history, and the extensive digital technology experience of SEP makes them the perfect partner for us to develop our strong growth. We have expansion plans across the board and in a short space of time, have evolved from a small business exploiting a gap in the market to emerge as a clear leader in our sector."

He added: "The online opportunity in the car finance industry is huge. This investment will allow us to accelerate innovations in our technology and deliver a vastly improved customer experience, as well as expanding our brand and helping us set a new industry standard for the way consumers shop online for car finance."

Andrew Davison, a Partner at SEP, will join the company's board. He said, "Car Loan 4U has been self-funded to date and we have been impressed by the fact that it has consistently grown revenues to become the UK's leading provider of online used car finance.    

"We believe there is a very large market opportunity, with seven million used cars being sold in the UK last year. This involved £8 billion of dealer-arranged finance across an estimated 845,000 deals. We are just at the beginning in terms of the use of the Internet in financial services. Our investment will enable the company to increase its brand awareness, allowing it to capitalise on the trend towards greater online loan provision."

Car Loan 4U will join SEP's expanding digital media and e-commerce portfolio which includes Media Ingenuity, operator of credit card comparison site TotallyMoney.com and the world's fastest growing international travel search company Skyscanner.

Technology investment bank GP Bullhound and lawyers DWF advised on the deal for Car Loan 4U.

For further information, please visit http://www.carloan4u.co.uk

Notes to Editor:

About Car Loan 4U

Founded in 2006 by entrepreneurs James Wilkinson and Ryan Dignan, Car Loan 4U is the UK's leading online car finance specialist.

Car Loan 4U offers a wide range of car finance deals regardless of the customer's history or circumstances to give a fast decision on loan applications for new or used cars, which can be underwritten and approved in minutes.

Based in Macclesfield and employing over 150 people, Car Loan 4U works with a panel of leading UK finance companies including Barclays and Santander.

Awards:

Entrepreneur of the Year, Ryan Dignan - JCI Manchester Young Talent Awards 2013
Team of the Year - JCI Manchester Young Talent Awards 2013
23rd fastest growing digital company in Europe - Media Momentum Awards 2013
Entrepreneur of the Year, James Wilkinson - JCI Manchester Young Talent Awards 2012

For further press information, please contact Car Loan 4U:
Dean Simmons, Email: [email protected], Tel: +44(0)7841-199-582

About SEP

Scottish Equity Partners (SEP) is a leading UK venture capital firm which invests in innovative, technology and technology-enabled, companies with significant growth potential. SEP invests in companies throughout the UK in the TMT (technology, media and telecoms), healthcare and energy sectors.

The current SEP portfolio comprises 40 high growth companies including travel search company Skyscanner, luxury fashion retailer matchesfashion.com, healthcare informatics company Aridhia and energy services company Anesco.

SEP is one of the largest venture capital firms in Europe and operates from offices in London and Glasgow. Investors in SEP's limited partnership funds include global financial institutions, alternative asset management companies, pension funds, family offices and major corporates.

For further information see http://www.sep.co.uk 
Media contact: Sarah Lee, +44(0)131-225-3875; +44(0)7766542110; [email protected]

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
AppZero has announced that its award-winning application migration software is now fully qualified within the Microsoft Azure Certified program. AppZero has undergone extensive technical evaluation with Microsoft Corp., earning its designation as Microsoft Azure Certified. As a result of AppZero's work with Microsoft, customers are able to easily find, purchase and deploy AppZero from the Azure Marketplace. With just a few clicks, users have an Azure-based solution for moving applications to the...
The cloud is becoming the de-facto way for enterprises to leverage common infrastructure while innovating and one of the biggest obstacles facing public cloud computing is security. In his session at 15th Cloud Expo, Jeff Aliber, a global marketing executive at Verizon, discussed how the best place for web security is in the cloud. Benefits include: Functions as the first layer of defense Easy operation –CNAME change Implement an integrated solution Best architecture for addressing network-l...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's