Exclusive: Dragonfly posts 2013 record figures
B&C can announce that Dragonfly Property Finance, one of the UK's largest bridging lenders, has posted record numbers for 2013...
B&C can announce that Dragonfly Property Finance, one of the UK's largest bridging lenders, has posted record numbers for 2013.
Last year, Dragonfly completed on 65 per cent more loans than it did during 2012, while the total value of completed loans in 2013 was 108 per cent higher than the year before.
Agreements in principle (AIPs) also rose significantly last year, both in terms of numbers and value. Dragonfly made 42 per cent more AIPs during 2013, with a value 38 per cent higher than the previous calendar year.
Dragonfly, which launched in 2009, continues to outperform the market and is targeting, in the short term, £1 billion of completed loans.
Its new commercial bridging loan range, headed by Ludo Mackenzie, and recent acquisition by Octopus Capital, will add to its momentum and enable it to target even more market share.
Jonathan Samuels, CEO of Dragonfly Property Finance, commented: "2013 was the busiest year for Dragonfly by a distance. The understanding of short and medium term finance has matured considerably and this, coupled with improving economic and market conditions, has seen the demand for our products soar. With our recent acquisition by Octopus Capital, we are well positioned to continue on this growth trajectory during the course of 2014. In January we have already had an exceptional start to the year: there is no sign whatsoever of a let-up in demand."
Back in November, B&C broke the news that Dragonfly had passed £750 million of lending since its inception, and that its loan book had grown to over £300 million.
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