In 2006, Rishi Khosla and Joel Perlman, our founders, faced an uphill struggle while trying to secure working capital to support their rapidly growing business, Copal Amba (now part of Moody’s Corporation). Their business was in a good shape with a healthy cash flow, and strong projections for the future, yet none of the banks were willing to lend to them because they didn’t have any property to act as security. As Copal Amba kept growing, Rishi and Joel realised that there are millions of other businesses in the UK facing the same struggles in securing growth finance. The idea for OakNorth began to form. After scaling Copal Amba to almost 3,000 people and selling it to Moody’s Corporation in 2014, the two set out to launch a bank for entrepreneurs, by entrepreneurs. Today, the bank is one of the most active lenders in the UK having lent over £3bn with c.55,000 savings customers. Its loans have directly helped with the creation of 10,000 new homes and 13,000 new jobs in the UK, as well as adding several billion pounds to the economy.

Our Founders, Rishi Khosla and Joel Perlman

March 2015

We secured the third new banking licence in the UK in 150 years

May 2015

We announced the appointments of Lord (Adair) Turner and Robert Burgess as Non-Executive Directors

July 2015

We appointed Cyrus Ardalan, former Barclays Vice Chairman of Public Policy & Government Relations, as Chairman

September 2015

We launched after being granted full authorisation from the PRA and FCA

November 2015

We secured £66m equity investment from Indiabulls, India´s largest non-bank SME lender

May 2016

We became the first UK bank to have its core systems fully-hosted in the cloud in what the Financial Times called a "landmark move" for the industry

September 2016

We became the first new bank* in the UK to break even and achieve profitability within one year of launching

January 2017

OakNorth becomes the first non-incumbent bank to join the British Business Bank´s Help to Grow Programme

March 2017

OakNorth completes first deal under the British Business Bank's Help to Grow Programme, a £600k loan to Notes

April 2017

We’re named on The 2017 Leap 100: the definitive list of the fastest-growing and most exciting companies in the UK

May 2017

We win Property Week RESI’s Residential Financier of the Year Award

October 2017

We secured a £160m investment from Coltrane, The Clermont Group and Toscafund, valuing the company at over $1bn and enabling us to lend a further £1.5bn in the UK in 2018

November 2017

We were named Bank of the Year at the City A.M. Awards

December 2017

We are approved by the Bank of England’s Term Funding Scheme

March 2018

We are named on Tech City UK’s Future Fifty

May 2018

We won the PROPS Award for Property Lender of the Year

June 2018

We were listed on Fintech City’s Fintech50

September 2018

We secured a $100m investment from GIC, Clermont Group, Coltrane Asset Management, the EDBI of Singapore and NIBC Bank

October 2018

We win “Lender of the Year” at the Estates Gazette Awards

November 2018

We rebranded ACORN machine to OakNorth Analytical Intelligence

February 2019

We secured a $440m investment from Softbank’s Vision Fund and Clermont Group

March 2019

We announced our 2018 annual results revealing profits before tax rose 220% to £33.9 million

April 2019

We announced our participation in the British Business Bank ENABLE Guarantee programme totalling £133m

May 2019

We launched mortgages for high net worth individuals, SME business owners and clients with atypical income streams

June 2019

We were named Best Internet Account Provider at the 2019 Moneyfacts Awards

Awards and nominations

We’re very proud that since our launch in September 2015, we have been shortlisted for and won a range of awards for our customer service, innovation, and the uniqueness of our proposition.