UK alternative lender ThinCats secures additional £100m funding to support SMEs
ThinCats, a UK-based alternative lender for small and medium-sized enterprises (SMEs), has secured up to £100 million in additional funding after extending its partnership with global asset manager Insight Investment.
ThinCats managing director Ravi Anand
Insight Investment has now been partnered with ThinCats for more than three years after originally investing in the firm in September 2018.
ThinCats managing director Ravi Anand says the new financing will provide much-needed additional support for SMEs as they invest in their post-pandemic growth strategies.
“Adding this new investment to the existing capital of our investor panel, alongside our own funding, means we have £650 million currently available to deploy in support of businesses across the UK,” Anand adds.
Insight Investment’s head of secured finance Shaheer Guirguis says that despite the substantial economic impact caused by the Covid pandemic, “our investment capital has continued to provide valuable support to UK SMEs while delivering good risk-adjusted returns to our investors”.
The company’s managed funds are part of a panel of senior investors, including Barclays and Citi.
Founded in 2010, ThinCats offers funding ranging from £1 million to £15 million for UK SMEs.
