Since its launch, Dragonfly Property Finance, has broken through the £1 billion milestone in lending.
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div> Since its launch, Dragonfly Property Finance, has broken through the £1billion milestone in lending.
Dragonfly now has its sights on achieving £2 billion of lending before the end of 2015, with commercial loans making up an ever greater percentage of the total as the lender grows that side of operations.
The majority of the 1,500+ loans involved in the £1 billion milestone were for residential purposes. However, the lender's commercial division is gaining significant momentum and market share.
Jonathan Samuels, CEO, of the principal lender, commented: "We have come a long way since our initial £25 million tranche back in 2009. The speed with which that £25 million was invested set the tone for the next five years as borrowers, rejected by the high street, increasingly turned to alternative lenders to meet their needs.
“At Dragonfly, it has always given us great satisfaction to provide finance where the banks fear to tread and, with the exceptional team that we now have in place, I have no doubt we will continue to do so in the months and years ahead."
Simon Rogerson, CEO, Octopus Investments, added: "Dragonfly Property Finance is one of the biggest forces within alternative finance and the fact that it has now hit £1billion of lending drives home why."
“When Dragonfly was established back in 2009, it was a bold and counter-cyclical business setting up amid the fall-out of 2008. Even though competition in the short-term finance sector is now fierce, Dragonfly continues to raise the bar and lead from the front. Under Jonathan’s leadership it has become a mainstay of the UK lending sector."
Dragonfly’s services focus on the following areas: bridging loans of between one and 12 months; medium-term buy to let loans of between 12 months and three years; second charges; commercial bridging finance; and development and mezzanine finance.
Octopus Investments is one of the UK’s fastest growing retail fund management companies. Founded in 2000, Octopus manages more than £3.5 billion of assets on behalf of 50,000 investors.
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