Fintech lender launches Sheffield base and £50m funding pot for Yorkshire SMEs

SME lender ThinCats has expanded into Yorkshire with a new base in Sheffield.

The Leicestershire-headquartered fintech has established an office at 1 Concourse Way and affirmed its commitment to Yorkshire with a £50m funding programme for the region’s businesses.

ThinCats has also appointed a new head of sales. Mike Hackett, who will work from the Sheffield office as he leads the firm’s business development team across the UK, has more than 22 years’ experience in banking and corporate finance.

He previously led RBS’ trading, real estate and healthcare team across Yorkshire and Humberside. Before that, MIke was head of business development for Santander Corporate & Commercial Banking in the North.

ThinCats’ chief development officer, Damon Walford, said: “The Sheffield economy is incredibly dynamic as it transitions from its traditional manufacturing heritage to new industries.

“Our data shows that the city is behind only London and Birmingham in having the highest number of companies likely to need funding over the next 12 months.”

He continued: “Sheffield also has a higher proportion of high growth companies than the UK average. In our mission to help UK businesses secure the funding they need to grow, we want to be fully immersed in the local business community.”

New head of sales Mike commented: “I am delighted to be joining ThinCats. I’ve seen from previous roles, the growing presence of alternative lenders like ThinCats who are effectively challenging the banks in the business lending sector.

“This is a great opportunity and I join a strong and experienced team who are focused on engaging with businesses and their advisers across the UK.”

ThinCats was founded in 2011. The company has a pot of £800m for funding UK-based SMEs in all regions and sectors – and across the full risk spectrum – with capital of between £250k and £10m.