ThinCats launches £300m debt fund to support high-growth UK firms

ThinCats has launched a £300m fund to support British businesses.

The alternative lender is targeting high-growth, owner-managed companies in the UK.

It will use its offices in London, Manchester and Birmingham to deploy the capital.

Read more: City funding lines help ThinCats narrow losses

ThinCats reportedly said the types of companies that it is targeting as borrowers “remain undeserved by traditional lenders as they often have a low concentration of physical assets to act as security,” according to City AM.

“The good news is that with inflation continuing to fall and the Bank of England signalling that interest rates may come down later this year, there is far more stability in the market,” said ThinCats’ chief commercial officer Mike Hackett.

Read more: ThinCats secures £696m funding line with support from British Business Bank

“Business owners are now beginning to make decisions again for acquisitions, management buyouts, EOTs or capital restructuring.

“Alternative lenders like ourselves alongside challenger banks and private debt funds are increasingly providing the necessary funding for ambitious, high growth businesses, especially in the regions.

“Working closely with regional business finance communities, we aim to support many more businesses looking to gain access to flexible  debt capital to support their growth objectives.”

Recent research revealed that ThinCats was the top alternative lender for M&A transactions in 2023 and the largest lender overall in London.

Experian Market IQ’s 2023 M&A report found that ThinCats funded 41 deals last year, coming second behind HSBC which funded 56 deals.

ThinCats was the leading debt provider to the London M&A market with 12 deals.