OakNorth is a UK bank focused on providing fast, flexible and accessible debt finance to entrepreneurs and mid-sized growth business. OakNorth was the third new retail deposit-taking bank licensed in the UK in 150 years and the first new bank in the UK to achieve profitability within its first year of operations. We launched in September 2015 and have built up a loan book that is rapidly growing and currently stands at c.£700m.
With approximately 150 employees, OakNorth typically provides loans of between £500k to £20m to its borrowers. Unlike the large incumbent banks, OakNorth gives clients the ability to discuss their deals directly with the Credit Committee. This enables a quick and transparent ‘credit-decision-to-deal-completion process’ which we can execute in weeks rather than the months required by larger institutions. OakNorth also considers multiple collateral types – stock, debtors, plant and machinery, etc. – rather than defaulting to only real estate like other banks.
On the deposit side, OakNorth offers personal saving accounts (fixed term, lottery fixed term, easy access, notice) as well as business saving accounts.
OakNorth was founded in 2015 by Rishi Khosla and Joel Perlman, two seasoned entrepreneurs who in building Copal Amba, (their previous venture), encountered issues securing growth financing from UK high street banks. Over a period of 12 years, Rishi and Joel built Copal Amba up to 3,000 employees, eventually selling it in 2014 to Moody’s Corporation.
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Here are some quick facts about OakNorth
We have now helped over 100 businesses across the UK achieve their growth ambitions.
We are one of the UK's fastest growing companies and have been voted as one of 17 UK Fintech businesses that could one day be worth $1bn.
Our loans have directly helped with the creation of over 3,000 new homes and 2,000 new jobs in the UK.
More job openings
Savings Team Intern
We are looking for an exceptional Savings Team Intern who will help us achieve our growth targets for the business. Role is based in OakNorth’s Manchester offices