Octopus is a UK investment business with more than £5.5bn of funds under management. It provided Dragonfly with its first funding line in 2009.
Mark Posniak (pictured), who took over as managing director in September, said Octopus had been ‘instrumental’ to Dragonfly’s success.
“We have always been part of Octopus and the rebrand cements this relationship with the broader Octopus group,” he said.
Posniak said that while he believes the Dragonfly brand is strong, the Octopus name will help the lender accelerate its growth.
The lender initially focussed its attentions on the bridging market but is keen to branch out beyond short-term loans. Dragon fly made improvements to its development finance range by reducing rates and fees which it said proved it had a large appetite in this market
