ITOCHU Acquires Stake In UK Auto Loan Broker

2026-05-19 03:04:23

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 19. ITOCHU Corporation has acquired shares in UK-based auto loan broker CARMONEY Ltd. in partnership with the Fund Corporation for the Overseas Development of Japan's ICT and Postal Services (JICT), making CARMONEY a consolidated subsidiary of ITOCHU, Trend reports via the company.

The transaction will be carried out as a joint investment with JICT (Japan ICT Fund), supporting Japanese overseas expansion initiatives while strengthening ITOCHU's global competitiveness.

Founded in Scotland in 2016 by Peter Vardy Holdings, CARMONEY operates a digital auto finance brokerage platform. The company connects consumers with financial institutions and used-car comparison services, leveraging AI-driven evaluation and matching technologies.

ITOCHU Corporation has been active in the UK auto finance market since 1999 through its subsidiary First Response Finance Ltd., which provides used car loans via dealerships. The acquisition of CARMONEY will allow ITOCHU to integrate CARMONEY's online consumer platform with its established dealer-based lending network, expanding its automotive finance operations in the UK.

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