|About the client:
|ThinCats is Europe’s largest SME secured lending platform, a peer-to-peer online provider, having lent more than £150 million to UK businesses since its foundation in 2010.
|About the transaction:
Akur Capital originated the transaction, which has been widely credited as the UK’s first major peer-to-peer M&A deal. This follows Akur’s brokering of a £50 million underwriting facility onto the ThinCats’ lending platform, announced in February 2015.
Concurrently with completing the ThinCats acquisition, ESF Capital has announced plans to make ThinCats the first of a series of deals in the European business lending sector, providing acceleration capital to peer to peer businesses in the form of strategic and operating resource, investment capital and speciality lending capital. ESF Capital represents a European specialist investment firm.
Kevin Caley, Co-Founder and Chairman of ThinCats commented: