Pivotal Growth has completed the acquisition of Believe Money Group, one of the UK’s largest technology-led second charge mortgage brokers, in what marks the company’s 20th deal.

Founded in 2017 by Ryan Wagstaff and Ian Johnson, Believe Money has grown into a significant player in the second charge market, while also offering unsecured loans, commercial and bridging finance, and protection insurance.

Its 2019 merger with fintech business Click Tech brought an AI-driven CRM platform into the fold, allowing the firm’s 130 staff to generate revenues of more than £20m in the last financial year.

The company’s strong focus on second charge lending and its established management team made it a natural target for Pivotal Growth, which already owns The Loan Partnership and is positioning itself as a leader in this segment of the market.

Wagstaff will continue as chief executive of Believe Money, working alongside chief commercial and marketing officer Ian Johnson and chief technology officer Dave Rogers.

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.”

Wagstaff said the deal was the “ideal partnership” to support the broker’s long-term growth and commitment to innovation.

The addition of Believe Money extends Pivotal Growth’s network to more than 500 advisers and reinforces its strategy of consolidation in the mortgage market.