Carfinance247 has experienced a 154% increase in turnover year-on-year, and hired Bill Leyland as financial director.

In a statement, the online motor finance broker said that they aim to reach £375m (€442m) in lending volume over the next year.

Four lending partners have joined Carfinance247, and the volume of prime business being written has risen 55%. The number of online applications also saw a rise, increasing 124%.

Reg Rix, managing director, 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.”

Staff numbers increased by 157 to 320 over the past financial year, in a move which Carfinance247 stated will help facilitate fast-paced growth.

Leyland, the newly appointed finance director, joins Carfinance247 after over 20 years’ experience in finance roles at companies including the sports retailers JJB and Sports Direct, and logistics company TDG.

Rix added: “We’re delighted to be attracting such highly regarded executives like Bill to our team, who will support our ambitious growth for the future.”