Beringea has announced that its lending company ProVen Legacy plc has provided funding to TH_NK, the leading independent digital transformation agency. The loan will support the agency in the next stage of its growth.
ProVen Legacy is a lending company designed to help investors mitigate inheritance tax (IHT) and preserve their capital. Investors should be able to benefit from up to 100% tax relief from IHT on the value of their ProVen Legacy shares, provided that they have been held for at least two years and at the time of death. This strategy is designed to meet the conditions of Business Property Relief, a tax incentive established by the government to encourage investment into trading businesses.
The investments into ProVen Legacy will be used to support growing companies across a range of industries as they enter the later stages of their scaling journeys, offering loans of up to £5m. The funding provided to TH_NK is the third loan made by ProVen Legacy, which was launched earlier this year.
TH_NK is an award winning digital transformation agency that works with clients like Vue, LV=, Shop Direct and Atom bank to set and realise their digital ambitions. Founded in 2004, it combines the business focus of consultancies, the customer centricity of agencies and the tech capability of systems integrators; making it a true partner for change.
ProVen Legacy’s lending adviser – growth capital investor Beringea – has a longstanding relationship with TH_NK. Beringea manages the ProVen VCTs which invested in the agency in 2009 and again in 2011.
Anita Rajdev, Chief Operating Officer at TH_NK commented “This new funding will help support TH_NK in what is a really exciting time for the agency. Beringea have been a huge support and a valued partner. The ProVen Legacy team are responsive and understanding, with clear and efficient lending processes. The company also has an excellent understanding of our business and a wealth of experience and knowledge in our sector.”