NextGear Capital has funded more than 142,000 vehicles in the UK and Ireland since its launch in 2014, with a total value of over £1bn.
The vehicle funder provides 1,200 independent and franchise dealers with stocking plans, and funds vehicles direct from over 60 auction sites located across the UK and Ireland. NextGear achieved £100,000 in vehicle funding in 2015, and expanded to Ireland in the same year.
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David Mercer, managing director of NextGear Capital, said the business had seen “exceptional growth,” and is seeking to become a market leader in 2017.
Mercer said: “It’s fantastic to see the growth we’ve enabled among our 1200+ strong dealer base.
“Reaching this milestone in wholesale vehicle funding means our dealers have not had to outlay the sum of £1bn of their own capital on stock, freeing it up to enhance their businesses in other ways.”
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