Online lender ThinCats has received more funding from Fintex Capital. This is financed by Fintex Specialty Finance UK, the firm’s flagship discretionary investment fund.
According to a note from the firm, Fintex has added to an existing mezzanine facility with ThinCats. Fintex has added £5 million of available capital bringing its total commitment to £12 million.
The platform states that since the Covid crisis, it has supported over 70 mid-sized UK firms with £250 million in debt financing.
ThinCats Managing Director Ravi Anand said that Fintex Capital has become a reliable partner they enjoy working with.
“Having started our funding partnership in the midst of the COVID-19 pandemic, it is nice to see its commitment grow. This funding line continues to have a meaningful impact and goes a long way in helping business owners to continue to make a valuable contribution to our economy.”
Fintex Capital is an investment firm in the private debt sector. Since 2016, the firm reports that it has provided over £300 million in private debt capital. Fintex manages discretionary investment funds for select Family Offices and segregated managed accounts for a variety of institutions.
ThinCats focuses on funding mid-sized SMEs with business loans from £1 million up to £15 million.