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Bespoke funding for UK SMEs

United Kingdom

ThinCats was launched as a result of the global financial crisis to help SMEs that were being underserved by traditional lenders. Since then, it has grown to become a leading alternative lender focusing on the funding needs of approximately 450,000 mid-sized businesses across the UK.

Customer base

Segment

SME

Mambu's role

Cloud banking platform

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There are around 450,000 mid-sized SMEs accounting for more than 25% of UK GDP. However, they often struggle to access the finance they need. ThinCats exists to fill this gap and is opening up new sources of long-term funding to help these businesses thrive.

By combining the latest in data analytics with traditional lending skills and a regional network of business finance specialists, ThinCats provides funding from £1m up to £15m for businesses looking to grow organically and/or through acquisition.

Thincats mambu 2
We needed a technology partner that understood our vision and could support delivery. As a cloud-native business, Mambu’s platform aligns with ThinCats’ technology strategy and provides a wider ecosystem of fintech products to facilitate our growth aims.
Billy Ferguson
Chief Technology Officer, ThinCats

With a current loan book of more than GBP650 million and ambitions to surpass the GBP2 billion mark in the next few years, Mambu’s flexible and composable cloud platform will enable ThinCats’ ambitions to support the growth of many more mid-sized businesses.

Billy Ferguson, Chief Technology Officer, at ThinCats said: “SMEs are critical to the UK’s economy, but many face challenges in securing funding or encounter lengthy application processes, in part, due to legacy technology platforms. As an alternative lender, we aim to fill this gap in the market by providing speed and flexibility, creating bespoke funding structures and transparency during the funding process.”

“We needed a technology partner that understood our vision and could support delivery. As a cloud-native business, Mambu’s platform aligns with ThinCats’ technology strategy and provides a wider ecosystem of fintech products to facilitate our growth aims. It provides a parameter-based product allowing ThinCats to service existing business and develop new products at pace. This ability to rapidly configure new products and connect to partner systems was key to the decision to choose Mambu.”

According to a recent Mambu report, more than two thirds of small and medium sized enterprises (SMEs) globally have been unable to secure sufficient, or any, funding on at least one or more occasions. It also showed the vast majority (92%) of SMEs are open to changing lenders for different or simpler digital support - demonstrating the opportunity for new market entrants.

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