"We envisage significant growth in our chosen markets and look forward to working closely with the Pollen Street team."
1st Stop, which has offices in Blackpool and Durham, was established in 2009 and offers secured and personal loans as well as home improvement products.
The lender says the investment will allow it to develop and grow its lending book, invest in infrastructure and platform, and "build a high quality lending business".
Pollen Street Capital is a private equity fund manager focussed on investing in businesses in the financial and business services sector and has invested over £1.2bn in a range of businesses across all stages of development.
Alex Mollart, Founder and Chief Executive of 1st Stop Group, said: “We are delighted to announce this investment by PSC Fund III. We envisage significant growth in our chosen markets and look forward to working closely with the Pollen Street team, who have a recognised track record in our market space, to deliver on our growth aspirations.
Lindsey McMurray, Managing Partner of Pollen Street Capital, added: “We are very excited to have the opportunity to back Alex, Dave and the rest of the team at 1st Stop to continue the rapid growth they have achieved in their chosen specialist markets. 1st Stop possesses the qualities Pollen Street looks for in its investments, with an entrepreneurial and driven management team, a differentiated strategy and value proposition, and the clear potential to be a market leading business. We look forward to working with the team to achieve our combined vision for the business”
