THINCATS has launched two new products for retail investors: its Innovative Finance ISA (IFISA) and a diversified loan portfolio product.
The peer-to-peer business lender soft launched its IFISA to existing investors on 21 September, firstly to those that had previously expressed an interest and then to other existing investors.
ThinCats will open up its IFISA to new investors from Friday, a spokesperson told Peer2Peer Finance News via email.
The platform said it hopes to be able to accept ISA transfers in the first quarter of 2019.
“Interest has been positive, although we expect volumes to pick up significantly from the New Year as we approach the tax year end,” the spokesperson said.
ThinCats first revealed plans to launch its IFISA in August 2017. The launch was delayed as it took longer than expected to build new systems to administer ISA investments.
The other new product, the diversified loan portfolio, gives ThinCats’ retail investors instant diversification across a portfolio of 20-40 existing loans with an investment from only £1,000.
The diversified loan portfolio product will be available in specific auctions via the ThinCats platform and can be held within the IFISA wrapper. Lenders will not be able to sell diversified loan portfolios or the underlying loans on the secondary market.
ThinCats has invested substantially in business development this year. The firm has unveiled a number of new hires, fresh institutional funding lines and the launch of a new loan product that brings the human touch back to its lending decisions.