The lender is also close achieving another major milestone - £2bn of completions.
Last year Dragonfly passed £1bn of completions and to date has lent more than £1.5bn.
Mark Posniak, managing director, Dragonfly, said: “In golf, you drive for show and you putt for dough. While completions are the former, redemptions are very much the latter. They’re the lifeblood of a lender and key to its financial health.
“In this regard, special thanks must go to Matt Smith who has overseen our loan book since 2010.
“To reach £1bn of redemptions underlines the quality of the borrowers out there, and the knowledge and expertise of the brokers introducing them.
“Most importantly of all, though, it enables us to lend more, which is something we’re always keen to do.”
