Fintech specialists ThinCats exceeds £500m worth of client lending

Fintech lender ThinCats has surpassed the £500m lending mark.

Following a record year in 2018, ThinCats has built on that momentum, lending over £200m in the past year.

This significant growth is said to have partly fuelled by ThinCats’ focus on medium-sized trading businesses (MTBs), who are supposedly overlooked in the SME lending space.

ThinCats’ in-depth knowledge of this marketplace, backed by its pioneering use of data and technology, such as its risk modelling system, PRISM, has enabled it to create bespoke lending packages for the UK’s growing and ambitious MTBs.

John Mould, ThinCats’ CEO, ThinCats, said: “This is an important milestone for ThinCats, and one that we will continue to build upon. I’m very proud of our team and all that we have accomplished so far.

“By continuing to seek opportunities to plug the funding gap and compete with the banks, we will give growing SMEs the funding they deserve.

“It’s great to see that UK SMEs are continuing to invest in their futures despite Brexit uncertainty. I look forward to celebrating our next milestone.”

ThinCats plans to continue unlocking new market potential, having already scaled up from its regional base in Ashby De-La-Zouch to open main offices in London, Birmingham and Sheffield.

Having secured lending capital in excess of £800m, with the majority from pension funds and institutions, ThinCats funds medium-sized SMEs across the full risk spectrum from £250k to £15m.

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