Founded in the aftermath of the global financial crisis, Leicestershire-based ThinCats has finally been granted full authorisation by the Financial Conduct Authority.
The approval highlights the company’s commitment to protecting consumers and developing the alternative finance industry as a vital source of capital for businesses, and income for investors.
Authorisation means they can offer a full spectrum of smart investment products , with the company already planning the launch of ThinCatss ISA, subject to obtaining ISA manager status from HMRC.
John Mould, CEO at ThinCats, said: “We are delighted to have been granted FCA authorisation, proving the dedication of our team and processes.
“We are very happy that more and more alternative finance providers are now being authorised, as it ultimately proves that the industry deserves the trust and confidence of investors, advisors and SME borrowers alike.”
ThinCats was founded with the aim of offering loans to UK businesses struggling to access funding through traditional channels.
They do this by linking businesses directly with investors via an online platform, offering attractive rates of interest that might not be available through many conventional investment portfolios.
By mixing innovative data analysis with well-trained advisers, ThinCats is able to candidly assess each loan and provide real opportunities for SMEs.
In December 2015, ESF Capital, the London-based institutional fund manager, acquired a 73.4% stake in ThinCats; providing investment, working capital and significant management and operational resource, along with underwriting capital for the loans on its platform.
John Mould became CEO of ThinCats, while ThinCats founder Kevin Caley became Chairman.
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement