THINCATS’ former chief executive John Mould (pictured) has given his backing to his replacement and said that he is planning to take a few months off before embarking on his next role.
The peer-to-peer business lending platform announced last month that Mould was leaving after four years at the helm and had been replaced with Amany Attia. Attia recently ran The Northview Group, a UK mortgage lender with more than £10bn in assets.
Mould said that thought Attia was a good choice as his replacement and heralded ThinCats’ growth in recent years. “Over the past couple of years, we doubled loan volumes every year and doubled revenues,” he said. “ThinCats is up and running.”
With regard to his future career, he said he had no specific plans at the moment but “in a few months I will re-emerge doing something”. He said he was not sure whether his next role would be in the P2P lending space.
ThinCats reduced its overall losses by 60 per cent last year, according to its 2018 annual results filed with Companies House last month. The lender saw a 45 per cent rise in gross profits to £2.3m but administrative costs, interest payments and taxes left it with an overall loss of £878,000. This was a substantial improvement from the £2.1m loss it posted in 2017.
ThinCats hit the £500m lending milestone in August.