Alternative credit investor Fintex Capital has announced its expansion of support for SME lender ThinCats with an additional £5m in mezzanine funding. This brings Fintex Capital’s total debt funding with ThinCats to £12m.
The funding is provided by Fintex Specialty Finance UK, the firm’s flagship discretionary investment fund. Fintex Capital, under the leadership of CEO Robert Stafler, continues to support credit-worthy mid-size businesses by facilitating loans expertly underwritten by ThinCats.
Supporting the UK Economy
According to Robert Stafler, the increased support for mid-size UK businesses comes at a critical time, as 2024 is expected to be a challenging year for many. Mid-size businesses are regarded as the lifeblood of the UK economy. Fintex Capital aims to kickstart the year by providing additional financial support to help these businesses thrive.
Impact of Funding Partnership
The funding partnership between Fintex Capital and ThinCats has already made a significant impact since the outbreak of the Covid-19 pandemic. Over 70 mid-size UK businesses have benefited from approximately £250m worth of credit. Ravi Anand, the managing director of ThinCats, expresses his appreciation for the growing commitment of Fintex Capital and highlights the meaningful impact of this funding on business owners and the overall economy.