Fintex Capital has expanded its funding partnership with alternative business lender ThinCats by providing an additional £5m in mezzanine finance.
This brings the private debt investor’s total mezzanine exposure with ThinCats up to £12m.
It is financed by Fintex Specialty Finance UK, the firm’s flagship discretionary investment fund.
Fintex Capital has partnered with ThinCats since the pandemic, supporting more than 70 mid-size UK businesses with around £250m in debt facilities.
“This transaction is testament to the strength of our relationship and the alignment of values we share,” said Robert Stafler, chief executive of Fintex Capital.
“We’re delighted to continue supporting credit-worthy mid-size businesses with loans expertly underwritten by ThinCats. Their borrowers deserve the flexibility and swift decision-making ThinCats affords them. 2024 is set to be a difficult year for many and it is great to kickstart the year by increasing our support for mid-size UK businesses, the lifeblood of the UK economy.”
Ravi Anand, managing director of ThinCats, added: “Fintex Capital continues to be a reliable partner we enjoy working with. Having started our funding partnership in the midst of the Covid-19 pandemic, it is nice to see its commitment grow. This funding line continues to have a meaningful impact and goes a long way in helping business owners to continue to make a valuable contribution to our economy.”
ThinCats is the trading name of a group of companies owned by ESF Capital. ThinCats announced today that it was approved by the British Business Bank as an accredited lender under the latest iteration of the Recovery Loan Scheme.