ThinCats said it will use the investment along with GBP 300 million from existing investors to create a potential GBP 600 million funding stream for UK small- and medium-sized businesses (SMEs).
The P2P lender said loans ranging from GBP 100,000 to GBP 10 million will be available to SMEs in all UK regions and business sectors.
ThinCats provides funding of up to five years to companies with asset backing or reliable cashflow for working capital, acquisition, refinancing or growth.
ThinCats has originated more than GBP 300 million of business loans to date. Institutional backing has helped the platform scale up its lending with larger deals. Earlier in 2018, it facilitated a GBP 10 million loan to support aerospace and defence manufacturing group Dynamic Industrial.
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