ThinCats hits monthly lending high of £12m

THINCATS, the peer-to-peer business lender, achieved a record lending level in December with just over £12m of funding listed on its platform.

This followed its biggest-ever loan of £6.7m to the Chelsea Yacht & Boat Company at the end of September.

ThinCats said 2017 was a “stellar” year. It became fully authorised; trebled its monitoring, securities and origination teams; and underwent a rebranding programme.

It also concluded a £200m funding programme for SMEs and made £100m available to manufacturing businesses across the UK.

Read more: ThinCats in advanced talks with new institutions

Damon Walford, chief development officer at ThinCats (pictured), said the expansion of the origination team has led to new partnerships with brokers and introducers, resulting in more opportunities for SMEs to access funding.

“It has been quite a year, and we go into 2018 with a very full pipeline, new partners, relationships developing throughout the UK, and high hopes for another successful year for all,” he added.

ThinCats was due to introduce its Innovative Finance ISA (IFISA) by the end of 2017, but because of a delay in building new systems the launch was pushed back until the new year. It is yet to confirm a launch date.

Read more: ThinCats hires East Midlands funding expert to scale up business