Travers Smith LLP has advised Wafra Capital Partners (WCP) on its £160 million strategic investment in ThinCats, the leading alternative finance provider to mid-sized SMEs. WCP has partnered with Quilam Capital on the transaction.
Having lent almost £1 billion to UK SMEs over the last few years, the investment from WCP, alongside senior bank and institutional funding, will enable ThinCats to lend a further £2 billion. Following its full investment, WCP will become a significant minority shareholder in ThinCats. This new capital will support its continued expansion through both larger loan sizes and new product development to scale up the volume of lending.
The Travers Smith team was led by Partner Charles Bischoff with support from Senior Associate Laura Smith, Associate Hannah Bailey, and Trainee Alex Holland.
Rachid Ouaich, Managing Director – Europe, WCP, said "Our capital is perfectly suited to assisting ThinCats on its next stage of growth. We are pleased to have worked with Travers Smith on this transaction and look forward to working with our partners, Quilam Capital, and the ThinCats team over the next few years to support mid-sized SMEs who will play an important role in delivering economic growth across the UK."
Charles Bischoff, Finance Partner added "We are delighted to have had this opportunity to work with both WCP and Quilam Capital once again. Their partnership has significant experience in supporting speciality finance providers and WCP's funding will help ThinCats support the growth of numerous UK SMEs as the economy recovers from the pandemic."
CMS advised ThinCats.