Evolution Funding Group, the automotive finance and digital commerce platform, has bought Automotive Compliance for an undisclosed sum.
Automotive Compliance provides regulatory oversight, governance, and compliance technology to over 1,000 dealerships across the UK.
The company supports dealers who are directly authorised by the FCA as well as those operating under an Appointed Representative structure.
Evolution said the acquisition was part of its strategy to provide dealers with a connected, end-to-end platform for the automotive finance and retail market.
It said the addition of Automotive Compliance allowed it to integrate compliance more deeply into dealer and consumer journeys.
Lee Streets, chief executive officer at Evolution Funding Group, said: “This acquisition is a hugely exciting moment for Evolution.
“Automotive Compliance brings the final piece of our platform vision to life, enabling us to offer a truly end-to-end solution for dealers, lenders, and partners.
“They are one of the most respected compliance providers in the industry, and we’re pleased to be bringing their talented team and expertise into the group.
“Their knowledge, systems and experience strengthen us in all the right areas, and together we’re creating a more connected, compliant, and innovative ecosystem for the automotive market.”
Paul Speakman, director at Automotive Compliance said: “Joining the Evolution Funding Group is an exciting step for Automotive Compliance.”
