ThinCats announces £160m strategic investment to scale up lending to mid-sized SMEs

Financial Services | South East

Amany1

ThinCats, the alternative finance provider to mid-sized SMEs, has today announced a strategic investment in the company from Wafra Capital Partners (WCP) of £160m. WCP have partnered with Quilam Capital on the transaction.

Having lent almost £1bn to UK SMEs over the last few years, the investment from WCP, alongside senior bank and institutional funding, enables ThinCats to lend a further £2bn. Following its full investment, WCP will become a significant minority shareholder in ThinCats.

Amany Attia, CEO, ThinCats: “We are delighted to announce this significant investment by WCP, reinforcing their belief in our business. WCP is an exceptional partner with proven experience in supporting specialty finance platforms. WCP shares our vision to deliver real scale of funding to UK SMEs. Mid-sized businesses are feeling more confident as the economy recovers from the pandemic and are looking to rebuild working capital and expand either organically or through acquisition. The WCP investment provides ThinCats the certainty of funding needed to support these businesses’ growth plans. This is an important next step for us as a lender and allows us to bring the benefits of non-bank lending to a wider universe of mid-sized businesses.”

Rachid Ouaich, Managing Director – Europe, WCP: “We have known ThinCats for a couple of years and been impressed how they have been able to scale the business, create a profitable platform and navigate the pandemic.  Our capital is perfectly suited to assisting ThinCats on its next stage of growth. We look forward to working with our partners, Quilam Capital, and the ThinCats team over the next few years to support mid-sized SMEs who will play  an important role in delivering economic growth across the UK.”

Kieran McSweeney, Partner, Quilam Capital: “We are delighted to be working alongside WCP and backing the impressive management team at ThinCats who have built a market leading platform in the SME space and one that we believe can grow materially over the next few years, supporting many hundreds of businesses and underpinning thousands of jobs.”

ThinCats was advised by Fenchurch Advisory Partners and CMS on WCP’s investment.

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