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September 19, 2018updated 20 Sep 2018 1:08pm

ThinCats looks at £300m institutional investment for p2p ABL

Commercial peer-to-peer lender ThinCats has agreed a wholesale facility of up to £300m with asset manager Insight Investment, potentially doubling its lending capital base.

By Lorenzo Migliorato

Commercial peer-to-peer (p2p) lender ThinCats has agreed a wholesale facility of up to £300m (€338m) with asset manager Insight Investment, potentially doubling its lending capital base.

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ThinCats provides asset-based and acquisition finance, as well as unsecured working capital lines. It lends to SMEs “across the full risk spectrum” through facilities between £100,000 and £10m.

“Our secured finance strategy continues to seek compelling assets that provide our clients with complexity premium above comparably-rated corporate credit securities,” said Shaheer Guirguis, head of secured finance at Insight Investment. “Our partnership with ThinCats represents our commitment to source the most compelling investment opportunities in specialist lending markets such as SME loans.”

The Leicestershire-based lender was founded in 2011. It has been on a recruitment drive over the past year, bringing in an origination manager from Royal Bank of Scotland’s NatWest, a regional head for the north from Allied Irish Bank, and a head of sales from Aldermore’s invoice finance unit.

ThinCats had already tapped into the institutional investors sector last year, when it brought in some £200m from ESO Capital and NYC-based Waterfall Asset Management. A sister company of ESO, EFS Capital, has held a majority share in ThinCats since 2015.

The flow of investment in p2p platforms by asset managers and private investors has been steadily rising over the last five years, with the investment divisions of major banking groups also throwing their weight behind a number of platforms.

British unsecured lender Funding Circle, one of the oldest p2p platforms globally, is to make a long-rumoured debut on the London Stock Exchange, which could raise as much as £1.8bn. The IPO is seen as a test for the p2p sector’s ability to scale up and maintain bank-like growth while keeping their independence from institutional backers.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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