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Alternative lender ThinCats scores £160m investment

Alternative lender ThinCats scores £160m investment

ThinCats, an alternative lender to UK SMEs, has secured a £160 million strategic investment from Wafra Capital Partners (WCP).

ThinCats, which has already lent nearly £1 billion to SMEs, says the investment, alongside two bank funding agreements, will enable it to lend another £2 billion.

Amany Attia, CEO, ThinCats, says: “This is an important next step for us as a lender and allows us to bring the benefits of non-bank lending to a wider universe of mid-sized businesses.”

Rachid Ouaich, MD - Europe, WCP, adds: “We have known ThinCats for a couple of years and been impressed how they have been able to scale the business, create a profitable platform and navigate the pandemic.

"Our capital is perfectly suited to assisting ThinCats on its next stage of growth."

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