Peer to peer lender celebrates injection of investment cash

TAMWORTH-based peer to peer lender ThinCats has announced an underwriting deal with ESO Capital Group.

The investment management group will underwrite a regular series of large deals on the ThinCats platform.

The partnership will initially involve £20m-£50m being deployed on the ThinCats platform but both partners expect this figure to rise significantly over the next few years.
 
Kevin Caley CEO of ThinCats said: “As a specialist in large, secured loans we are confident that ESO’s underwriting commitment will help us further strengthen our position as one of the leading players in the sector.

“This partnership will also allow us to facilitate further lending to UK SMEs as well as driving increased liquidity and opportunities to our thousands of lenders. We believe that ESO’s choice of ThinCats gives a strong validation to our model and commitment to all stakeholders who benefit from our platform.”
 
The ESO underwriting partnership will allow ThinCats to expand further into larger deals.

Although the lender has already arranged a number of loans greater than £2m, the relationship with ESO allows ThinCats to auction loans of up to £5m or more with the confidence that they will be funded.