OakNorth

lendingp2b-smeneobanks / digital bankslicensed digital banks

FOUNDING YEAR: 2015
LOCATION: United Kingdom
Last Update: 01/05/2020

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About

OakNorth is a digital only bank which provides banking services for individuals and businesses. It received full banking licence approval in 2015. OaKNorth offers SME lending platform that provides debt finance to businesses and real estate property developers/investors. It offers finance to small and medium-sized businesses between £500k to £40M.

Focus

PRODUCTS & SERVICES

OakNorth provides a cloud based fintech platform ACORN, that leverages machine learning to enable banks automate and accelerate data-driven decision making process throughout the loan cycle. It adopts a private equity approach to portfolio monitoring and credit analysis methodology for corporate loans. Additionally it offers various FSCS-protected savings accounts for individuals and businesses including fixed-term, notice and cash ISA accounts, etc.

Traction

TRACTION COMMENT:

The company has loan book of £1.7bn and raised deposits from c.20,000 savers to date and has over $5bn of assets under service on its platform by year end. (Sep. 2018)

People

FOUNDERS

Joel Perlman

Rishi Khosla

BOARD MEMBERS AND ADVISORS

Lord Adair Turner

Lord Francis Maude

Nicholas Lee

NUMBER OF EMPLOYEES

501-1000

INVESTORS:

Amalthea Capital

Clermont

EDBI

General Insurance Corporation of India

Indiabulls Group

Level Ventures

NIBC

Toscafund Asset Management

KEY EMPLOYEES:

Cristina Alba-Ochoa(CFO)

James Cashmore(CRO)

Momentum

FUNDED

YES

TOTAL FUNDING

$1.14 B

DATE OF LAST FUNDING

2019

SEED & PRIOR FUNDING

$35.71 M

SEED CLOSED ON

Dec 2014

FUNDING SERIES

SERIES A  · $200.83 M  · Nov 2015

SERIES B  · $464.91 M  · Sep 2018

OTHERS  · $440 M · Feb 2019

LISTED

NO

COMMENT

The company raised $440 Mn funding amount in undisclosed round in Feb 19.

BASICS

FOUNDING YEAR:

2015

LOCATION:

United Kingdom

Views:

190 VISITORS | 246 VIEWS
LATEST FUNDING ROUND

$1.14 B

TOTAL EMPLOYEES
501-1000

About

OakNorth is a digital only bank which provides banking services for individuals and businesses. It received full banking licence approval in 2015. OaKNorth offers SME lending platform that provides debt finance to businesses and real estate property developers/investors. It offers finance to small and medium-sized businesses between £500k to £40M.

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