Being part of the GBP 700 million private warehouse introduced in September 2023, the CPP Investments’ funding assists ThinCats in supporting growing UK small and medium-sized enterprises (SMEs). In addition, CPP Investments’ addition to the company’s range of funders allows the latter to advance its GBP 2 billion loan book target over the upcoming years. Back in July 2024, when its financial year ended, ThinCats reported that it lent nearly GBP 378 million to SMEs across the UK, which was a substantial increase from the previous year. At that time, representatives underlined that despite several difficulties, including cost inflation, energy bills, and higher interest rates, as well as a drop in activity across the market, the firm continued to expand and showcased an increase in origination levels.
Moreover, the facility comes as the most recent line of funding received by ThinCats and highlights the capabilities of the UK SMEs the company targets its lending services to. According to CPP Investments’ officials, the company is an active participant in private warehouse funding, with it being pleased to be part of funding the UK’s economic growth via ThinCats’ platform.
Furthermore, this came as ThinCats’ second transaction with support from the ENABLE Guarantee programme and aimed to facilitate lending to UK SMEs. Considering that small businesses provide a substantial contribution to economic growth, the British Business Bank’s ENABLE Guarantee programme worked towards allowing alternative lenders, in this case ThinCats, to collaborate with banks to offer lending at scale and support their progress.
