OakNorth Bank is a Manchester-based commercial bank founded in 2013 by Rishi Khosla and Joel Perlman. It provides lending solutions to small and medium-sized businesses, supported by its proprietary Credit Intelligence Suite, which enhances underwriting precision and risk monitoring. The bank serves growth-focused enterprises across sectors such as real estate, hospitality, manufacturing, and technology. OakNorth Bank has become one of the United Kingdom’s leading fintech lenders, known for fast credit decisions, strong customer satisfaction, and a scalable technology platform.
What Is OakNorth Bank and What Does It Do?
OakNorth Bank, founded in 2013 by Rishi Khosla and Joel Perlman, is a Manchester-based commercial bank offering data-driven lending solutions for mid-sized businesses. The company employs 50 employees and leverages its advanced Credit Intelligence Suite to evaluate and monitor loans with precision.
OakNorth provides business loans, property finance, and savings products, helping entrepreneurs and scale-ups secure capital efficiently. Its technology-first approach enables faster credit assessment and real-time portfolio insights.
How Much Funding Has OakNorth Bank Raised?
1. Conventional Debt
- Amount Raised: $38.6M
- Investors: Hilltop Credit Partners
Total Funding Raised: $962 Million
Current Valuation: $5 Billion (as of Sep 2021)
Latest Funding Date: 2021
Key Investors
1. GIC
- Details: Singapore’s sovereign wealth fund investing globally across public and private markets.
- Investment Focus Areas: Technology, finance, real estate, infrastructure.
- Notable Investments: OakNorth Bank, Chime, Ant Group, UBS.
2. SoftBank Vision Fund
- Details: One of the world’s largest technology investment funds, backing high-growth companies.
- Investment Focus Areas: Fintech, AI, robotics, enterprise tech.
- Notable Investments: Uber, DoorDash, Grab, OakNorth Bank.
Where Is OakNorth Bank’s Headquarters?
OakNorth Bank is headquartered in Manchester, United Kingdom, giving it access to one of Europe’s strongest financial and technology ecosystems with deep banking talent and regulatory infrastructure.
What’s Next for OakNorth Bank?
OakNorth Bank plans to further scale its Credit Intelligence platform globally while expanding its lending portfolio within the UK. With strong investor backing and robust profitability, the bank aims to enhance automation, strengthen risk analytics, and broaden its partnerships with financial institutions worldwide. OakNorth is also expected to pursue deeper market penetration in mid-market lending an area historically underserved by large banks.
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