ThinCats has secured £75m in funding from CPP Investments, which manages C$632bn (£358bn) of property for the Canada Pension Plan.
The mezzanine funding line can be used to lend to UK mid-sized companies.
It varieties a part of the £700m non-public warehouse facility that ThinCats launched in September 2023, which at present has deployed £440m.
“This funding from CPP Investments demonstrates the sturdy urge for food from establishments to fund rising UK SMEs and is a testomony to credit score high quality of ThinCats lending course of,” mentioned Ravi Anand, managing director of ThinCats.
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“CPP Investments’ addition to ThinCats various vary of funders brings ThinCats one step nearer to its £2bn mortgage guide goal over the following few years.”
Ben Mason, head of European credit score at CPP Investments mentioned: “CPP Investments is an energetic participant in non-public warehouse funding. We’re happy to have the ability play our half in funding UK financial progress by ThinCats’ platform.”
The brand new funding line comes after ThinCats noticed a document stage of deal origination in its monetary 12 months ending 30 July 2024, lending £378m to SMEs. It’s ranked because the primary non-bank lender for M&A transactions within the UK, in line with Experian Market IQ’s 2023 M&A report.