ThinCats, a leading player in the FinTech sector, has just secured £75m in a mezzanine funding injection from CPP Investments.
ThinCats uses advanced data analytics and traditional lending expertise to tailor funding solutions ranging from £1m to £20m for each SME it supports, aiming to help these businesses thrive.
ThinCats focuses on mid-sized SMEs, defined as those with £0.5m to £40m in gross assets, recognizing the complex funding needs that are often unmet by traditional banks and online-only lenders. It primarily employs cashflow lending, accounting for about 75% of its new loans, to support businesses needing capital for growth or acquisitions.
Led by CEO Amany Attia, ThinCats’ team of experts in underwriting, asset management, and data analytics is dedicated to enabling the growth and success of mid-sized businesses across the UK. The company’s proprietary risk model, PRISM, uses big data to assess credit risk accurately, providing early loan pricing and sizing indications to potential borrowers.
Ravi Anand, Managing Director at ThinCats said, “This funding from CPP Investments demonstrates the strong appetite from institutions to fund growing UK SMEs and is a testament to credit quality of ThinCats lending process. CPP Investments’ addition to ThinCats diverse range of funders brings ThinCats one step closer to its £2bn loan book target over the next few years.”
Ben Mason, Head of European Credit, CPP Investments said, “CPP Investments is an active participant in private warehouse funding . We are pleased to be able play our part in funding UK economic growth through ThinCats’ platform.”
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