We are very pleased to announce a new £20 million funding commitment from British Business Investments, a commercial subsidiary of the British Business Bank.
ThinCats breaks through £400m funding mark to UK SMEs
We are very pleased to announce that we have provided funding worth more than £400m to over 500 UK businesses since our launch.
ThinCats was founded in the aftermath of the global financial crisis with the aim of offering funding to SMEs severely constrained by the lack of bank finance, whilst providing investors with attractive potential returns.
ThinCats has grown rapidly in the last two years, scaling up from our HQ in Ashby De-La-Zouch to open offices in London, Birmingham and Sheffield. Following a number of institutional funding programmes from investors including Insight Investment, BAE Systems Pensions and British Business Investments, we now have capital in excess of £800 million for the funding of UK businesses.
Damon Walford, Chief Development Officer, said “This is an important milestone in our mission to help more UK SMEs access the finance they need to grow. The strong momentum from 2018, when we provided £112m of funding, has continued into 2019 taking us through £400m in total.
“The investments that we have made since 2016 have transformed our ability to provide the vital funding that UK businesses need and we will continue to invest in our people and technology to deliver the highest levels of service to the business advice community across the UK.”
“We are delighted to be helping savvy UK entrepreneurs who realise there is a better way to fund their businesses and it’s great to see that ambitious SMEs are looking through Brexit and continuing to invest in their growth.”