ThinCats sets £12m funding record

Damon Walford, CDO at ThinCats.

ThinCats sets £12m funding record

The alternative finance specialist is set to achieve new levels of growth over the next 12 months after a record-breaking 2017.

2017 was also an important year for the firm as it achieved full FCA regulation, tripled its monitoring, securities and origination teams, and underwent a full rebranding programme.

The culmination of this work was a record month in December, with just over £12m of funding listed on the ThinCats platform, following the biggest-ever ThinCats-listed loan of £6.7m to the Chelsea Yacht & Boat Company at the end of September.

Overall, 2017 was a successful year of development and growth for the company, demonstrated by an increased origination team that now covers the length and breadth of the country as well as a significant increase in internal credit, securities and monitoring.

Further milestones in 2017 included the conclusion of a £200m funding programme for UK SMEs, alongside institutional investors including Waterfall Asset Management, and made £100m available to manufacturing businesses across the UK, in association with Hennik Edge, a networked advisory team for companies operating in the sector.

Damon Walford, CDO at ThinCats, said: "With considerable funding to deploy, ThinCats Origination has blossomed into a full team of experienced, finance-smart experts.

“This has brought about a number of new, key partnerships with brokers and introducers across many regions, introducing a great variety of opportunities and avenues for SMEs to access the funding necessary to grow and develop."

Reaching these latest milestones in the final quarter of 2017, ThinCats also undertook a total rebrand in December. 

The firm now has a brand new corporate identity and website, as well as a completely new look and focus to echo and enhance the developments within the company.

Damon added: "It has been quite a year, and we go into 2018 with a very full pipeline, new partners, relationships developing throughout the UK, and high hopes for another successful year for all."