Accelerator Directory / Oaknorth Bank Limited

Business Description

Business bank: "Lending for entrepreneurs, by entrepreneurs. Helping established, fast-growth businesses scale up by providing fast, flexible and accessible debt finance.

In 2006, founders Rishi Khosla and Joel Perlman were trying to secure working capital to support their growth business, COPAL AMBA (now part of Moody’s Corporation). Despite having a good business with healthy cash flow, they found that banks were unwilling to help because the business had no property to act as security.

….we understand entrepreneurs/owner-managers, and the fact that their requirements often do not fit into standardised models. We believe that a funding partner needs to be able to understand the dynamics of a business, and structure lending to suit the business – opposed to the other way around."

Advert in Sunday Times 23.7.17. £600m lent to LEON, BRASSERIE BLANC, NOTES, WHITE BRASSERIE, BEL & THE DRAGON, GALLIARD HOMES, FROGMORE, LINTON GROUP, GODFREY, Z HOTELS, POCKET LIVING, THE COLLECTIVE…

Jun. 8, 2017 - OakNorth, the 'bank for entrepreneurs,' lent £300m last year | Business Insider.
"…made net income from its lending of £7.1m last year, up from £156,000 in 2015, its first year of operation. Pre-tax losses edged up slightly from £2.2m to £2.4m in 2016. ...the bank says it is already breaking even on a monthly basis and most of the losses come from investment into technology.

Customer deposits, attracted through a savings account, jumped from £10.9m to £202.3m in 2016. …. now has £350m from 10,000 savers. ...has raised £91.6m in equity funding to date.

... became the first bank to host its systems entirely on the cloud last May and the company's annual report details investment in machine learning and AI projects to help with credit modelling and loan origination. ...it is working on a system to "better predict real estate selling and rental prices" and to "benchmark and predict performance of new borrowers in sectors such as restaurants and catering."

Earlier this year tech-focused investment bank GP BULLHOUND named OakNorth as a fintech startup it believes could one day be worth over $1 billion."

26 Apr 2017 - ....makes it on to The Leap 100: the definitive list of fast-growth companies

11 Jan 2017 - ... becomes the first challenger bank to partner with British Business Bank on its ‘help to grow’ programme.

Nov 11, 2015 - INDIABULLS HOUSING FINANCE LIMITED buys 40 pct stake in OakNorth for £66m.

Chairman Cyrus Ardalan.

Registered Address

6th Floor, Nightingale House
65, Curzon Street
London
W1J 8PE

Contact Details

Previous Names

NamePeriod
OAKNORTH LIMITED 2013-07-03 - 2015-03-14

Key Data

Sector
8355 Banks
Company Number
08595042
Type
Private Limited Company
Company Age
4 years
Incorporated
July 3, 2013
Status
Active
Nature of Business
64191 - Banks
Year End
December 31
Accounts Due
September 30, 2018
Latest Accounts
December 31, 2016

News Feed

OakNorth: Personal Savings, Business Savings and Structured ...

Source:www.oaknorth.com

Launched in September 2015, OakNorth is a UK bank that provides fast, flexible and accessible debt finance (between £500k - £20m) to fast-growth businesses and established property developers.”

OakNorth Bank - Wikipedia

Source:en.wikipedia.org

OakNorth is a UK bank that lends between £500,000 to £25m to businesses and property developers. The bank, which gained regulatory approval in early 2015, was founded by entrepreneurs Rishi Khosla and Joel Perlman, who had previously founded Copal Amba. In October 2017, the bank announced that it had ...

OAKNORTH BANK LIMITED - Overview (free company information ...

Source:beta.companieshouse.gov.uk

OAKNORTH BANK LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity.

About Us - OakNorth

Source:www.oaknorth.com

Launched in September 2015, OakNorth is a UK bank that provides fast, flexible and accessible debt finance (between £500k - £20m) to fast-growth businesses and established property developers.”

Entrepreneur-focused bank OakNorth hits 'unicorn' status in funding ...

Source:www.businessinsider.com

Oct 13, 2017 ... LONDON — Entrepreneur-focused bank OakNorth has raised £154 million from Singapore investment group The Clermont Group, UK hedge fund Toscafund, and Coltrane Asset Management. The consortium has purchased close to a 16% stake in the two-year-old business, valuing ...

OakNorth | LinkedIn

Source:www.linkedin.com

Learn about working at OakNorth . Join LinkedIn today for free. See who you know at OakNorth , leverage your professional network, and get hired.

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