Rishi Khosla OakNorth.png

OakNorth

w: Oaknorth

t: @OakNorth

CEO :  Rishi Khosla

Founders: Joel Perlman, Rishi Khosla

Founded: 2015

Sectors: Lending / Debt Finance for fast-growth businesses

Latest Funding: £100M Series B, September 2018

Lead Investors: Clermont Group, GIC, Coltrane Asset Management, NIBC Bank

Total Funding: $467.5M

HQ: UK, London

Launched in September 2015, OakNorth is a UK bank that provides fast, flexible and accessible debt finance (from £500k to £30m) to fast-growth businesses and established property developers. The combination of its primary and secondary investment in November 2017 (£250m), was the largest UK fintech raise to date. Since launch, it has:

  • Turned cash flow positive in month 11 (August 2016) and repaid all its accrued debts before it turned two years old;
  • Made £10.6m pre-tax profit in 2017 – only its second full year of operations;
  • Grown its loan book to £1.7bn, directly helping with the creation of 5,500 new homes and 4,500 new jobs in the UK;
  • Secured £364m from several investors, including: GIC, Toscafund, Coltrane, The Clermont Group, and Indiabulls, valuing the company at $1.4bn.