ThinCats breaks through £1bn lending milestone

ThinCats, the Ashby alternative finance provider to SMEs, has today (June 30) announced that the company has provided more than £1bn in total business lending.

Following on from record levels in 2020, the firm says that lending volumes have continued strongly during the first half of 2021.

ThinCats recently announced a strategic investment in the company of £160m from Wafra Capital Partners which will enable it to lend a further £2bn 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, said: “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.”