Altenburg Advisory has supported Fresh Thinking Capital in raising a £25m financing facility from Foresight Group, a listed alternative investment manager. Altenburg Advisory worked closely with Fresh Thinking Capital and Foresight on structuring a debt facility tailored to provide the flexibility required for Fresh Thinking Capital’s business model. With its new lending capacity, Fresh Thinking Capital will be able to substantially grow its loan book and provide much needed financing to a wide range of SMEs that require a lender to tailor funding that is right for them.
Headquartered in Leeds, the Company provides short-term secured business loans to UK-based SMEs seeking fast and flexible financing, in circumstances where the business may need a prompt funding solution to realise an opportunity. Fresh Thinking Capital takes a pragmatic and commercial approach to each individual customer’s unique situation, and by taking a variety of assets as security, is able to provide bespoke short-term financing more quickly and efficiently than mainstream lenders.
The business was launched in 2018 by Melanie Hird and Andrew Walls, who previously spent ten years in private equity focused on supporting UK-based SMEs. At Fresh Thinking Capital, the team has built a profitable lending business with a strong track record, having lent over £50 million supporting nearly 40 businesses.
Commenting on the investment, Melanie Hird, Founder and Director of Fresh Thinking Capital said: “We are delighted to have secured a funding facility with Foresight that will allow more SMEs to benefit from our flexible funding at a time when businesses and entrepreneurs are looking for additional liquidity. We are excited to be working with Foresight and believe their approach and principles to lending fit with our business. We look forward to supporting SMEs and helping them achieve their growth aspirations.”
William Senbanjo, Partner at Altenburg Advisory, said: “It has been a pleasure working with Fresh Thinking Capital on this transaction. The bespoke funding solution from Foresight will help Fresh Thinking Capital to deliver essential funding to businesses, and we are delighted to have supported them on raising this funding facility.”
Oliver Bates, Private Debt Manager at Foresight, added: “We are continuing to grow our asset backed lending portfolio and delighted to partner with the Fresh Thinking Capital team. Melanie and Andrew have built a highly successful business in a relatively short time and navigated what was a difficult 2020 for many lending businesses extremely well. We look forward to supporting the team in its next phase of growth.”
Altenburg Advisory is a debt advisory focussed firm, working with UK SMEs and mid-market companies to advise on, structure and arrange debt financing solutions. Alongside raising debt for speciality finance companies (“lending to lenders”), Altenburg Advisory arranges cash flow, asset backed and real estate financing solutions
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