Dragonfly Property has rebranded to Octopus Property.
The short-term property finance business is the newest division of the Octopus Group. It joins Octopus Investments, Octopus Healthcare, Octopus Ventures, Octopus Energy and Octopus Labs.
Mark Posniak, managing director, Octopus Property, said: “Octopus has always been instrumental in Dragonfly’s success, having provided our first funding line back in 2009. Since we were acquired outright, it was only a matter of time before we rebranded to Octopus, which is an established, respected and energetic brand within financial services.”
Established in 2009, Octopus Property works primarily with brokers to provide their clients with quick, short-term borrowing solutions.
A large number of clients include property investors, developers and landlords, and since its launch Octopus Property has completed more than £2.2bn of loans with a capital loss of under 0.01%.
Mario Berti, head of Octopus Property, added: “The launch of Octopus Property marks our commitment to the UK property market and the beginning of an exciting new chapter in the development of the Octopus Group.
“Building on the strong foundations we have put in place with Dragonfly, we will grow our share of the short and medium term finance market and continue to identify exciting opportunities in UK property where we believe we can really make a difference to our customers while delivering attractive returns to our investors.”