ThinCats tops-up coffers with £100m funding line

Insight Investment has agreed to extend its existing £300m partnership with the SME lender.

SME lender Thincats has announced an extension of its existing funding partnership with Insight Investment, worth an extra £100m.

It builds upon the funding relationship between Insight and ThinCats that started back in 2018, when the asset manager signed a £300m funding deal with ThinCats.

“The relationship between ThinCats and Insight Investment has been a successful one, and we are pleased to be extending the partnership in this way,” said ThinCats managing director Ravi Anand.

“The new investment will provide much needed additional support for mid-sized SMEs as they invest in their post-pandemic growth strategies.”

ThinCats says the extra cash means it currently has £650m available to deploy to support SMEs across the UK.

Insight is part of ThinCats’ panel of senior investors which includes Barclays and Citi, with cash being deployed alongside ThinCats’ own capital.

Shaheer Guirguis, head of secured finance at Insight Investment, said: “Insight has partnered with ThinCats for more than three years and seen it grow from strength to strength.” 

“During this time, and despite the substantial economic impact caused by the Covid pandemic, our investment capital has continued to provide valuable support to UK SMEs while delivering good risk-adjusted returns to our investors.”