Chris Pacey is said to have more than 20 years’ experience with deep technical knowledge of receivables and ABL products.
Prior to joining ThinCats, Chris was working as Head of Relationship Management at ABN AMRO Commercial Finance.
Chris will work alongside the ThinCats business development team “across the country, in particular, Steven Munt in London/South East, Matt Vincent in the Midlands and Mike Dinnell in the North West.”
Agile Capital provides a holistic funding solution “for businesses where a traditional ABL facility does not meet its total funding requirement and a term loan ‘overfunds’ the business from time to time.”
Ravi Anand, Managing Director, ThinCats said:
“Agile Capital enhances ThinCats proposition to mid-sized businesses by addressing the challenge of funding growth within a working capital intense business. Our simple, but innovative solution of a term loan plus an RCF, fills a market gap and is a valuable addition to our existing suite of facilities. We are delighted to have Chris on board to spearhead this initiative.”
Chris Pacey, Head of Agile Capital, ThinCats said:
“I am delighted to be joining ThinCats at such an exciting time in its development and lead the new Agile Capital product. Having worked in ABL for many years it is great to see a solution which takes a more holistic view of a borrower’s funding needs. By combining ThinCats’ expertise in cashflow lending with some of the principles of ABL, we have created a one-stop solution to fund growth and working capital requirements without the need to interfere with management of a borrower’s operational cash flows.”
As covered earlier this year, 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.”
