Dragonfly Property Finance has redeemed more than £500m of loans since its launch in 2009.

This month, the lender also passed 1500 loans completed.

The short and medium-term lender is targeting £1bn of loans completed during 2014. It believes its new commercial bridging loan range, headed by Ludo Mackenzie, and recent acquisition by Octopus Capital, will add to its momentum and enable it to target more market share.

Jonathan Samuels (pictured), CEO of Dragonfly Property Finance, said: “As other firms in the sector will confirm, the first few months of 2014 have been exceptionally busy. 2013 was the biggest year yet for bridging but 2014, at the current rate of growth, should beat it hands down.

“We’re especially pleased that our redemption levels continue to rise so strongly, as this reflects the quality of the borrowers out there and growing maturity of the sector. Alternative finance is becoming increasingly mainstream.”