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Peer2Peer Finance News | February 23, 2019

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ThinCats expands into Sheffield with new hire

ThinCats expands into Sheffield with new hire
Kathryn Gaw

BUSINESS lender ThinCats has continued its UK-wide expansion with a new office in Sheffield which will be the base for the platform’s newly-appointed head of sales, Mike Hackett.

Hackett will lead ThinCats’ business development team across the UK. He has more than 22 years’ experience in banking and corporate finance and previously led the RBS trading, real estate and healthcare team across Yorkshire and Humberside.

“I am delighted to be joining ThinCats,” said Hackett. “I’ve seen from previous roles, the growing presence of alternative lenders like ThinCats who are effectively challenging the banks in the business lending sector. This is a great opportunity and I join a strong and experienced team who are focused on engaging with businesses and their advisers across the UK.”

Read more: ThinCats analysis of SME loans in 2018 affirms data model

ThinCats has been on an expansion drive over the past two years. It now boasts four UK offices, in Sheffield, London, Birmingham and Ashby-de-la-Zouch in Leicestershire.

Earlier this year, the platform hired former RBS executive Sam Lewis to head up its East Midlands business, and in October 2018 it launched a £50m funding programme for the West Midlands, with a focus on Sheffield.

“The Sheffield economy is incredibly dynamic as it transitions from its traditional manufacturing heritage to new industries,” said Damon Walford, chief development officer at ThinCats. “Our data shows that the city is behind only London and Birmingham in having the highest number of companies likely to need funding over the next 12 months.

“Sheffield also has a higher proportion of high growth companies than the UK average. In our mission to help UK businesses secure the funding they need to grow, we want to be fully immersed in the local business community.

“I am delighted to have Mike on board. He brings great experience and Sheffield is an ideal place from which to lead our UK sales team.”

Read more: ThinCats has £800m “ready to deploy” for UK SMEs