Our relationship with ThinCats

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Nick Moules
20th November 2014

rebuildingsociety has signed a deal to build technology platforms for ThinCats, so we want to give you some more details and answer any questions you might have.

WHAT: rebuildingsociety’s technology sister company, White Label Crowdfunding, has been contracted to build ThinCats’ new version of its peer-to-peer lending platform – ThinCats 2.0. It will also build platforms for ThinCats’ joint ventures in Australia and Poland, which will trade under the ThinCats brand.

WHY: ThinCats wants to combine its strong brand presence in the UK market with the technological expertise of White Label Crowdfunding to create a powerful platform to host its plans for scale and innovation in the peer-to-peer industry, both in the UK and abroad. So far ThinCats has created £78m of loans.

White Label Crowdfunding specialises in creating platforms for crowdfunding and peer-to-peer lending and has already created live platforms in the UK and the US, including eMoneyUnion, Invest Next Door and Invest and Borrow, with a development pipeline consisting of platforms in Georgia, The United Arab Emirates, Malaysia and the UK.

WHEN: The partnership is now live and work is ongoing on the new ThinCats platform. A launch date of January 2015 has been earmarked. ThinCats hopes to launch ThinCats Australia in by November and ThinCats Poland early in 2015.

WHAT DOES THIS MEAN FOR ME AS A REBUILDINGSOCIETY USER?

We expect this partnership to allow us to develop technology that can be leveraged across all of our platforms, including rebuildingsociety, as part of our joint commitment to helping our community and our clients to stay at the forefront of the alternative finance industry.

There is no merger going on between us, or planned, this is simply a contract that will see White Label Crowdfunding team members work on the new ThinCats platform. We see ourselves as complementary in the alternative finance space, given the different size and type of loan that is created on our platforms and rebuildingsociety remains 100% committed to building a thriving borrowing and lending community, which we will do with your help.

There is to be no exchange of data between platforms. Everything will remain separate and secure, in line with how both platforms currently operate.

We view this collaboration as a positive move that will only enhance both of our propositions and ultimately, your experience with us.

MD COMMENTS

Kevin Caley, Managing Director, ThinCats: “the success of the ThinCats model has attracted interest from around the World from joint venture partners who want to adapt the same business philosophy to their local market and our new software platform will make it easier to establish and support those partners as well as accelerate the rate of innovation for ThinCats in the UK. We are pleased to have found a technology partner with the experience and commitment to make the transfer as painless as possible and we look forward to working together to make the most of the opportunities provided by this rapidly growing market.”

Daniel Rajkumar, Managing Director, rebuildingsociety and White Label Crowdfunding: “Collaboration is a very strong theme in this market. In order to grow the overall size of the space, we need to work jointly, which we do through trade associations and by creating mutually beneficial relationships, like this one.

“When ThinCats approached me to help I was happy to oblige – it is a very respected brand in the market, so we’re excited about helping ThinCats expand and raise awareness of peer-to-business lending and White Label Crowdfunding around the world.”

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