ThinCats’ chief development officer departs

Ashby-based fintech lender ThinCats has announced the departure of its chief development officer.

Since joining ThinCats in July 2016, Damon Walford has helped the company relaunch its brand and establish a nationwide origination team. The value of ThinCats’ loan book increased fourfold during this period, with annual growth in loan origination averaging 80% per year over the last three years.

In August 2019 the total value of loans arranged by ThinCats passed the £500 million mark.

Walford’s responsibilities for origination will pass to Mike Hackett, ThinCats’ head of sales. Hackett has accrued over 20 years’ experience raising capital for small and medium sized businesses in senior corporate banking roles at RBS and Santander.

The news comes after the company announced its intention to abandon its P2P platform in favour of an institution-only funding model.

Walford, outgoing chief development officer at ThinCats, said: “I am incredibly proud of what we have achieved in taking ThinCats from a niche P2P lender to a mainstream alternative funder of the mid-sized businesses that play a key part in driving the UK’s economic growth.

“ThinCats is in a great position to build from here and I am confident that they will gain further traction within the corporate finance, accounting and private equity finance communities. I am looking forward to my next challenge.”

ThinCats’ chief executive Amany Attia said: “Damon has been instrumental in helping ThinCats become a genuine funding alternative to the banks for many mid-sized businesses across the UK. I would like to thank Damon for his contribution to so many areas of the business over the last three and a half years.

“Damon leaves us well placed to capitalise on the increasing appetite from institutional investors to allocate more of their investments to business loans, which will enable more businesses to look beyond their banks for better funding solutions. We wish Damon well in his future endeavours.”