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Peer2Peer Finance News | June 25, 2019

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Former RBS executive joins ThinCats in business development role

Former RBS executive joins ThinCats in business development role
Marc Shoffman

THINCATS has named a former Royal Bank of Scotland (RBS) executive as director of regional business development for the East Midlands.

Sam Lewis brings more than 15 years of banking and corporate finance experience to the role, which will involve originating and structuring lending facilities for small- and medium-sized enterprises (SMEs) in his region.

“It’s great to be joining ThinCats at such an interesting time,” Lewis said.

“We are seeing many SMEs turn to finance providers like ThinCats to support their growth ambitions.

“As a regional SME itself, ThinCats understands and is providing the opportunity to effectively support SMEs in the short, medium and long term through a variety of flexible financing structures.

“I look forward to supporting the wider business aims of ThinCats as we continue to prioritise potential of SMEs.”

Damon Walford, chief development officer at ThinCats said the experience Lewis brings will “continue enhance our offering.”

It comes after ThinCats said it lent a record £112m to SMEs last year.

This is more than double the amount which was lent in 2017, and boosts the peer-to-peer business lender’s total loan value since inception to £350m.

In December 2018, ThinCats announced that it had signed a £200m funding agreement with BAE Systems Pensions following a £300m funding with global asset manager Insight Investment. As a result, the platform now has more than £800m available for new SME loans in 2019 and beyond.

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