June 16, 2021
Quilam team up with Wafra Capital Partners to support alternative lender ThinCats
Alternative lender ThinCats has secured a £160m strategic investment to scale up lending to mid-sized SMEs.
The firm has received the investment from Wafra Capital Partners (WCP). WCP has partnered with Quilam Capital on the transaction.
The funding will enable ThinCats to lend a further £2bn, with the business having lent almost £1bn to UK SMEs over the last few years.
The new capital will also support its continued expansion through both larger loan sizes and new product development to scale up the volume of lending.
Amany Attia, chief executive of ThinCats, said: “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 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.”