ThinCats, a fintech lender for mid-sized SMEs, has launched a new GBP100 million funding programme for private equity backed UK businesses.
ThinCats has close to GBP1 billion of capital to invest and is seeing increasing demand from private equity backed businesses to fund larger sized deals up to GBP15 million.
The new funding programme follows a series of recent loans facilitated by Dave Sherrington, Regional Head of Sales at ThinCats to businesses in partnership with leading private equity houses. In January, ThinCats provided a GBP5m funding package for Flat Iron, an award-winning restaurant chain backed by consumer brands specialist Piper. ThinCats has also worked with Revolve Technologies to help fund their retail and US expansion, backed by Rockpool Investments
ThinCats provides funding to UK businesses, across the full risk spectrum and in all regions and sectors, from GBP250,000 to GBP15 million. It aims to simplify the traditional bank-dominated commercial lending model. Since being founded in 2011, ThinCats has lent over GBP400 million to UK SMEs.
Damon Walford, CDO at ThinCats, says: “Our mission is to level the playing field for British businesses whose growth ambitions are being held back by traditional lending models. We have helped a number of private equity houses with both portfolio businesses and new investments over the past year and this new funding programme will provide valuable transparency, clarity and structure to support entrepreneurs with their immediate and longer-term growth plans.”
Anthony Francis, Partner, Rockpool, says: “It is encouraging to see ThinCats partnering with private equity houses to support SMEs that have often found it challenging to access appropriate credit solutions. Their approach should benefit British entrepreneurs looking for investment to grow. We look forward to working with ThinCats to support ambitious and innovative business across the UK.”
Peter Kemp-Welch, Partner, Piper, says: “We are increasingly seeing alternative funders in this space and enjoyed working with ThinCats. Their team really understood Flat Iron’s ambitions and built a package to support the business’s growth. We welcome this news and will continue to work together to support the next generation of entrepreneurs.”
