ThinCats launch new £100m funding programme for private equity backed businesses

Damon Walford

Leicestershire-based ThinCats have launched a new £100 million funding programme for private equity backed UK businesses.

The SME lender have close to £1bn of capital to invest and are seeing increasing demand from private equity backed businesses to fund larger sized deals up to £15m.

The new funding programme follows a series of recent loans facilitated by Dave Sherrington, Regional Head of Sales, to businesses in partnership with leading private equity houses. In January, ThinCats provided a £5m funding package for Flat Iron, an award-winning restaurant chain backed by consumer brands specialist Piper. ThinCats has also worked with Revolve Technologies to help fund their retail and US expansion, backed by Rockpool Investments

ThinCats provide funding to UK businesses, across the full risk spectrum and in all regions and sectors, from £250,000 to £15 million. It aims to simplify the traditional bank-dominated commercial lending model. Since being founded in 2011, ThinCats has lent over £400m to UK SMEs.

Peter Kemp-Welch, Partner, Piper said: “We are increasingly seeing alternative funders in this space and enjoyed working with ThinCats. Their team really understood Flat Iron’s ambitions and built a package to support the business’s growth. We welcome this news and will continue to work together to support the next generation of entrepreneurs.”

Damon Walford, CDO at ThinCats, said: “Our mission is to level the playing field for British businesses whose growth ambitions are being held back by traditional lending models. We have helped a number of private equity houses with both portfolio businesses and new investments over the past year and this new funding programme will provide valuable transparency, clarity and structure to support entrepreneurs with their immediate and longer-term growth plans.”

Anthony Francis, Partner, Rockpool said: “It is encouraging to see ThinCats partnering with private equity houses to support SMEs that have often found it challenging to access appropriate credit solutions. Their approach should benefit British entrepreneurs looking for investment to grow. We look forward to working with ThinCats to support ambitious and innovative business across the UK.”