ThinCats, an alternative lending industry leader, announced on Tuesday it has received full authorization by the Financial Conduct Authority (FCA). According to the online lender, the approval highlights its commitment to protecting consumers and also developing the alternative finance industry as a vital source of capital for businesses and income for investors. It was revealed:
“Authorization 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.”
John Mould, CEO at ThinCats, added:
“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 authorized, as it ultimately proves that the industry deserves the trust and confidence of investors, advisors and SME borrowers alike.”
The full authorization approval comes just weeks after ThinCats joined forces with Edinburgh-based Alderburn Finance and specialist marine training/consultants Stream Marine Training (SMT) to provide funds to bring a unique offering to Scotland.