ThinCats' Transitional Capital offering hits £200m in funding milestone
ThinCats, the alternative finance provider to mid-sized SMEs, has announced its Transitional Capital product has surpassed £200m in funding since launching in 2021, backing some of the UK's fastest-growing businesses.
Led by Stuart Thompson and Steven Henderson, ThinCats' Transitional Capital team has supported 14 businesses, including managed service provider Redsquid, and fast-growing accountancy practice Ascendant Accountants, and enabled 54 acquisitions.
Unlike traditional senior debt, Transitional Capital offers back-ended repayment profiles and greater leverage multiples, allowing companies to reinvest cash for further acquisitions and growth, rather than immediate debt servicing.
The milestone comes as ThinCats provided £348m of total funding to UK businesses over the past 12 months, an increase on 2024, with strong demand concentrated in IT and telecoms, IFA, and professional services sectors.
ThinCats has now lent more than £2.3bn to businesses across the UK with assets under management of £700m. The company was acquired by Shawbrook Bank in October 2025 but continues to operate as a separate brand.
While overall deal volumes in the lower mid-market have plateaued, we're seeing strong activity from businesses in fragmented sectors like IT services, wealth management and professional services. Reaching £200m in funding demonstrates there's a cohort of mid-market businesses that want to grow through acquisition but need a lender that understands their trajectory and can provide the capital and expertise these businesses need to scale at paceStuart Thompson, Head of Transitional Capital
