P2P platform ThinCats launches in Australia offering secured business loans
UK-based peer to peer lender ThinCats arrived on Australian shores yesterday, offering secured business loans to small and medium enterprises, as well as investment options for wholesale investors.
The peer to peer platform, which cuts out the banks from the borrowing equation, follows in the footsteps of SocietyOne which launched in Australia in 2012 and RateSetter’s debut last month. However, rather than focussing on lending to everyday Australians, ThinCats targets small and medium sized enterprises in need of a secured business loan.
ThinCats Australia stated on its website that the P2P platform also intends to offer investment options to “wholesale investors willing to lend directly with business borrowers through an online auction marketplace for loans.”
“ThinCats Australia provides a means for experienced wholesale clients (which includes qualifying sophisticated investors, professional investors, high-net-worth investors and trustees of self-managed superannuation funds), to achieve competitive returns while providing funding to established but growing Australian SMEs.”