Online broker Carfinance247 posts 154% turnover growth

Carfinance247, the online motor finance broker, has achieved three-figure turnover growth during its last financial year.

The Manchester-headquartered company saw its turnover skyrocket by 154% year on year, while the total value of its loans supplied rose by 122% to almost £210m.

Over the next 12 months, Carfinance247 plans to increase its loan value figure to £375m and expand its base of lending partners. Four new lenders have joined the firm this year.

Elsewhere, the company grew its workforce by 157 and now employs more than 320 people. Its online presence is also increasing, with its website’s annual visit total rising by 124% to more than 6m.

Reg Rix, the managing director of Carfinance247, said: “Our growth is a combination of our continued investment in technology, driving increased efficiencies internally and delivering an exceptional customer experience, as well as a motivated and invigorated workforce.

“We’re committed to quality recruitment, ongoing staff training and industry-leading incentive schemes; our investment in employee satisfaction was recognised with us achieving Sunday Times Top 100 Best Companies to Work For status.”

He continued: “To accommodate our growth, we’ve also expanded the number of offices we occupy adding offices in Express Networks 2 in Manchester to our portfolio.”