Home Business NewsBusinessBusiness Growth News ThinCats hits £1bn funding milestone

ThinCats hits £1bn funding milestone

by LLB Finance Reporter
29th Jun 21 10:16 am

ThinCats, leading alternative finance provider to mid-sized SMEs, has today announced that the company has provided more than £1 billion in total business lending. Following on from record levels in 2020, lending volumes have continued strongly during the first half of 2021.

ThinCats recently announced a strategic investment in the company of £160 million from Wafra Capital Partners which will enable ThinCats to lend a further £2 billion to businesses across the UK.

Currently around 60% of ThinCats’ loans support businesses outside of London and the South East with 74% structured as cash flow loans.

Amany Attia, CEO ThinCats: “Mid-sized SMEs have been underserved in terms of funding options for too long, so we are delighted to be providing a genuine alternative. Our model of creating bespoke funding solutions by combining the latest in data analytics with traditional lending at a local level has been well received by the professional advisor community and we thank them for their continued support.

“Whilst lending £1 billion is a significant milestone, the recent investment from Wafra Capital Partners will enable us to substantially accelerate the number of businesses we can support in the future. Mid-sized businesses recognise the need to invest as the economy picks up again and we look forward to supporting many more with their growth ambitions.”

Leave a Commment

You may also like

CLOSE AD

Sign up to our daily news alerts

[ms-form id=1]