FinTech lender ThinCats is to be snapped up in a reported £180 million deal.

Challenger bank Shawbrook Group plc has agreed a deal for the specialist lender with a track record in providing bespoke funding to established, growth-focused SMEs.

The acquisition – reported by Sky News to be for around £180m – will include a projected loan book of £700m with corresponding risk weighted assets of approximately £600m. The transaction is expected to be earnings per share accretive in the first full financial year post completion.

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