So oaknorth, the london based fintech just announced it has just raised a $440 million funding from softbank and clermot and has also become the most well-fundef fintech in europe.
Founded in 2015, OakNorth provides loans to small-to-medium enterprises via a digital platform which, the company says, “streamline the lending process”.
They said the new funding would be used to expand it operations to the US. SoftBank Investment Adviser Munish Varma said in a statement that “OakNorth is delivering a highly differentiated service to a key segment of the market that has historically been underserved by commercial banks”, the fintech lending company is now valued at an amazing $2.8 billion.
OakNorth Co-Founder Rishi Khosla said aloso in a report “We are excited to have another strong investor on board, “With this finance from SoftBank and follow-on investment from Clermont, we will be able to continue scaling the group’s operations globally.” According to a statement issued by OakNorth on Friday, the firm has provided $3.7 billion in loans to SMEs in the UK since launching in 2015. The company said that their lending activities have created 11,000 new jobs and led to 9,000 homes being built. OakNorth also said that none of their customers have defaulted or made a late payment.
If you are based in the UK and need a loan or somethinh like that you should consider trying them out.
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