Vanarama founder and chief executive Andy Alderson is “extremely positive” about his business’s prospects after kicking off plans for five-fold growth in the next four years with a record start to 2021.

Alderson took the decision to forge ahead with plans to further digitalise the leasing provider through artificial intelligence (AI) and automation when the COVID-19 coronavirus crisis hit last year and is now driving a branding exercise aimed at leveraging his significant growth ambitions.

Vanarama is aiming to see deal volumes rise from a projected 24,000 in 2021 – up from 12,000 in 2019 – and deliver a significant boost in its financial performance.

“This year our turnover will be in the region of £150m. By 2025 it’s going to be in the region of £2.75bn, with EBITDA (earnings before interest, taxes, depreciation and amortisation) of £58m well up on the £6.5m we expect this year,” says Alderson.

“I’m confident we can achieve the numbers. We’re on the front foot, we’ve adapted the business to a point where it’s ready to scale and we’ve had a record Q1 to start the year in a period of lockdown.”