Alternative lender ThinCats is thrilled to announce that the company has been granted full authorisation by the Financial Conduct Authority.
Alternative Finance
The approval highlights the company’s commitment to protecting consumers and developing the alternative finance industry as a vital source of capital for businesses, and income for investors.
Authorisation paves the way to offering a full spectrum of smart investment products, with a number of developments planned including the launch of a ThinCats ISA, subject to obtaining ISA manager status from HMRC.
Pioneers of Peer-to-Peer Lending
As one of the pioneers of the alternative lending industry, ThinCats was founded in the aftermath of the global financial crisis.
The aim has always been to offer loans to UK businesses struggling to access funding through traditional channels, and link them directly with investors via an online platform, offering attractive rates of interest unavailable through many conventional investment portfolios.
Innovative Analysis
Starting from the belief that funding applications deserve more than just harsh number crunching, ThinCats uses innovative data analysis combined with a human touch to candidly assess each loan, listening to the story behind each case; providing real opportunity for SMEs, encouraging growth, development and advancement in UK business.
In December 2015, ESF Capital, the London-based institutional fund manager, acquired a 73.4% stake in ThinCats; providing investment, working capital and significant management and operational resource, along with underwriting capital for the loans on its platform.
Alternative Finance
John Mould, CEO at ThinCats, commented:
“We are delighted to have been granted FCA authorisation, proving the dedication of our team and processes.
We are very happy that more and more alternative finance providers are now being authorised, as it ultimately proves that the industry deserves the trust and confidence of investors, advisors and SME borrowers alike.”
John Mould, CEO
www.thincats.com