Shawbrook Bank Ltd, the challenger bank reported to be eyeing an imminent return to a London stock market listing, has beefed up its SME lending with the acquisition of fintech ThinCats for an undisclosed fee.
With the SME segment accounting for 21% of the privately owned lender's total loan book as of June, the purchase is designed to accelerate growth in this area.
ThinCats' market position is established and its business origination capabilities are proven, Shawbrook said, with a tech-backed business model that aligns with its own.
The ThinCats brand will continue to be used as part of a portfolio of brands, including Bluestone Mortgages and JBR Capital.
Shawbrook CEO Marcelino Castrillo says a "leading UK fintech with an excellent track record for delivering bespoke funding to growth-focused SMEs, whose owners, management teams and sponsors value speed, flexibility and certainty.
"ThinCats' approach is aligned to our own strategy of leveraging technology, credit excellence and an entrepreneurial culture to deliver a premium proposition to established UK SMEs."
Shawbrook was taken over by private equity firms BC Partners and Pollen Street Capital in 2017.
Reports have been coming thick and fast that a £2 billion IPO is being planned the second half of 2025, after previous market instability delayed plans earlier in the year.