Motor finance broker Evolution Funding has announced the appointment of Paul Saggar as chief innovation officer and Adam Small as head of operations.
Saggar joins the business from Capita Travel and Events, part of Capita, where he served as chief innovation Officer. He brings to the role over 20 years’ experience in software development, IT infrastructure, data science, and digital customer experience development.
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Saggar will oversee Evolution’s development and IT teams, and will be responsible for developing the firm’s digital strategy. He will also increase insight into customer behaviour and build technology solutions to bolster the company’s digital offering.
Small brings 17 years’ experience to his role, joining the business from Capital One. In his new role, Small will oversee dealer services, underwriting, dealer oversight, and the complaints team. He will lead a programme of process development, improvement and automation across Evolution’s B2B support functions.
“We are delighted to welcome Paul and Adam to the company,” said Lee Streets, chief executive of Evolution Funding. “Both bring significant and relevant experience and insight to the team, along with track records of business transformation.
“The creation of these roles reflects the importance of digital innovation and continuous improvement in shaping the future success of Evolution, and these appointments will enable us to accelerate this further as we deliver on our ambitious growth plans.”
Earlier this year, the motor finance broker secured funding from private equity investor LDC which valued the firm at £110m. The transaction saw LDC take a significant minority stake in the business and was backed by acquisition finance facilities from Santander and Aviva Investors.
Lee Streets said: “This is a big moment for the business. We’ve spent the last 15 years listening to customers and developing the best technology in the market for vehicle finance. Bringing a partner on board like LDC gives us not only the capital to accelerate our growth, but also the boardroom expertise to help us unlock the potential of our business.
“LDC understood our vision for the business from the off and shared the same ambition. This is a great outcome for our partners, customers and employees alike, and we’re hugely excited about our plans for growth.”
