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UK alternative lender ThinCats secures nearly £700m in funding facility | Fintech InShorts: Latest fintech news, analysis by experts

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UK alternative lender ThinCats secures nearly £700m in funding facility

By Laura M

September 20, 2023

ThinCats, a UK-based alternative business lender, has secured nearly £700 million in a fresh warehouse facility with Citi and Barclays Bank, backed by British Business Bank’s ENABLE Guarantee programme.

Facts

ThinCats secures nearly £700 million in new funding facility.
The facility, ThinCats’ second under the guarantee programme, enables lending support of up to £696 million for mid-sized UK businesses.
Senior funding is provided jointly by Citi and Barclays, while junior funding comes from ThinCats and an undisclosed UK credit fund.
The ENABLE Guarantee programme reduces capital requirements for lending to smaller businesses, with the UK Government sharing some of the risk in exchange for a fee.
Ravi Anand, ThinCats’ managing director, highlights the funding’s significance in reflecting the company’s growth and strong performance despite macroeconomic challenges.

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