
OakNorth Stock
Customized Mid-Sized Loans
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About OakNorth Stock
The next-generation credit platform that's redefining business borrowing for the "Missing Middle" - the growth businesses who are the backbones of communities and economies globally but who have been in banking's blind spot for decades. The platform leverages machine learning, decades of credit expertise and massive data sets (including unconventional and previously unavailable data) to model a forward-looking view of a borrower’s financial situation, that’s informed by industry benchmarks, macroeconomic drivers, and scenario analysis specific to that business. It currently has over $17bn of assets under service. What this means for OakNorth’s commercial banking clients: • The way borrowing should be – loans that are customised for the borrower’s individual needs and completed in days or weeks vs months, leading to accelerated revenue and business growth • More attractive economics & scaled growth – origination and credit teams who can transact several times more deals per year • Insight and foresight without the noise – larger data sets and deeper analysis enable more informed credit decisions and proactive portfolio monitoring delivers better credit outcomes Since its inception, OakNorth has secured over $1bn from leading investors, including: Clermont Group, Coltrane, EDBI of Singapore, GIC, Indiabulls, NIBC, Toscafund, and SoftBank. Rishi Khosla and Joel Perlman founded OakNorth in 2015 to address the challenges they faced in securing debt finance from high street banks for their previous business, Copal Amba (which scaled to c.3,000 employees and was acquired by Moody’s Corporation in 2014).
Investors
Clermont Group
Coltrane Asset Management
Future Fifty
OakNorth, Blockchain.com, eToro, Starling Bank, Darktrace, Azimo, Qubit, Brandwatch, Monzo, Revolut
GIC
Flipkart, Alibaba, Ola, Rappi, Devoted Health, Affirm, Brex, SambaNova Systems, OakNorth, Square
NIBC Bank N.V.
SoftBank
One97, Flipkart, Delhivery, Cruise, OneWeb, Tokopedia, Ola, Rappi, Devoted Health, AUTO1 Group
Toscafund Asset Management
Funding History
January 2015 | $23.0M |
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November 2015 | $66.0M |
January 2017 | $27.5M |
October 2017 | $161M |
November 2017 | $90.0M |
September 2018 | $100M |
February 2019 | $440M |
Management
Chief Executive Officer
Sunil Chandra
Press
Forbes - Apr, 12 2020
OakNorth: The Agile Bank Getting Money To Small Businesses In The Coronavirus CrisisBarron's - Mar, 26 2020
OakNorth Looks to Sell $400M Stakefinsmes - Jun, 17 2019
Oncore IT Receives Loan from OakNorthprnewswire - Apr, 3 2019
OakNorth, Gore Mutual, Collibra and More Feature in BizClik Media's Latest Issue of FinTech Magazinepymnts - Feb, 26 2019
OakNorth Links To Faster Payments Via ClearBanktechworld - Feb, 15 2019
How UK fintech unicorn OakNorth will spend that $440 million of SoftBank moneymobilepaymentstoday - Feb, 8 2019
OakNorth Holdings raises $440M to expand SME lending platform into USdealstreetasia - Feb, 8 2019
SoftBank Vision Fund to invest $440m in UK banking startup OakNorthpitchbook - Feb, 8 2019
Vision Fund backs OakNorth to break European fintech recordTechCrunch - Feb, 8 2019
OakNorth raises $440 million from SoftBank and ClermontEquityZen does not have an affiliation with, formal relationship with, or endorsement from any companies featured above. This profile is based on publicly available information and is intended to be informative in nature.
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