Founded in 2017 by Ryan Wagstaff and Ian Johnson, Believe Money has expanded into the second charge mortgage market and unsecured lending, such as commercial and bridging finance and protection insurance.
In 2019, Believe Money merged with fintech company Click Tech to develop artificial intelligence (AI) driven sourcing solutions. One of its founding members, Dave Rogers, also joined the advice firm as chief technology officer.
The merger resulted in Believe Money creating an AI-powered CRM platform to streamline its client journey. This has also been integrated with lenders and introducer partners, allowing its team of more than 130 people to generate annual revenues of more than £20m last year.
Pivotal Growth said Believe Money’s strategic focus on the second charge market and its experienced management team made it a “highly attractive” acquisition, which would enable the group to expand its footprint and accelerate growth.
The firm joins Pivotal Growth’s subsidiary, The Loan Partnership, as an adviser in the second charge market.
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Wagstaff, chief executive of Believe Money, will continue to lead the business alongside Johnson, chief commercial and marketing officer. Rogers will work closely with the Pivotal Growth team to drive the next phase of expansion.
Mayank Prakash, group chief executive of Pivotal Growth, said: “Believe Money is an exceptional business that is a true leader in the second charge mortgage space and well-respected by the lender community and introducer partners. The team has achieved significant growth driven by relentless focus on improving the customer journey through state-of-the-art technology it has developed internally.
“We are absolutely thrilled to partner with Ryan, Ian, and Dave to drive Believe Money’s growth and to explore the potential of these technologies across the group.”
Wagstaff added: “We are thrilled to join Pivotal Growth as Believe Money enters the next chapter of its journey. With a shared commitment to innovation and technology, we see Pivotal Growth as the ideal partner to support Believe Money’s long-term success. The additional strength and resources this acquisition brings allow us to remain focused on driving sustainable growth across Believe.
“Together, we are building on strong foundations and unlocking new opportunities for our dedicated team, valued clients, and trusted partners.”
