ThinCats hits £2bn funding milestone for SMEs

Birmingham-based ThinCats has announced that it has provided £2bn in funding to mid-sized UK SMEs, marking a milestone for the alternative finance provider.

The company’s £2bn achievement follows a record-breaking lending year, with ThinCats reaching £378m in funding during the financial year ending June 2024.

A key driver of this growth has been the launch of ThinCats’ healthcare proposition in 2020, alongside its sponsor franchise initiative.

Looking to 2025, ThinCats expects heightened market activity, with many mid-sized SMEs seeking finance to scale up and pursue acquisitions.

In October, the company relocated its headquarters from Ashby to larger offices at Birmingham’s Snow Hill.

It supports a range of sectors, including manufacturing, hospitality, care services, and professional services.

Mike Hackett, chief commercial Officer at ThinCats, said: “This milestone reflects ThinCats’ dedicated approach to the mid-size market and support for the local finance community with whom we work in partnership to help mid-sized businesses thrive. ThinCats’ commitment to regional investment has been a critical driver of growth and we have built up experienced teams across our network of regional support offices, and they work hard to deliver flexible funding solutions for mid-sized businesses across the UK.”