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Oodle Car Finance exceeded £3bn applications in 2018

Jonny Clayton, chief executive, Oodle car finance

Oodle Car Finance has celebrated that processing of over £3bn of car finance applications across its 168 car retailer partners during 2018.

The result marks a strong year of growth for the online finance business since 2017, when Oodle processed nearly £1bn in finance applications from UK drivers.

Jonny Clayton, chief executive of Oodle, said: “At £55bn the used car market is the largest retail market in the UK, however it has yet to see the same digital transformation witnessed in all other retail sectors.

“It’s our aim to use technology to revolutionise the way people buy and own cars.

“We’re excited to have seen such growth. To generate nearly £3 billion in car finance applications and 600% growth in sales in one year is an amazing achievement.”

Oodle said in a statement that it is on a mission to match customers with great cars and make car ownership simple.

This means working with car retailers to drive consumer choice and continually innovate with technology and process to drive the best consumer outcomes and experience.

Since launching in April 2016, fintech company Oodle has seen fantastic growth for its tech enabled car finance services.

The actual number of applications rose from around 100,000 in 2017 to more than 300k in 2018.

Clayton said: “It’s a testament to our vision of what a finance company needs to be in this fast changing landscape, and to our team’s passion to deliver an offering that can really shape customer lives by getting them into great cars as simply as possible.

“These are exciting times, and we’ve only just started.”

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