Launched in September 2015, OakNorth is a UK bank that provides fast, flexible and accessible debt finance (from £500k to £30m) to fast-growth businesses and established property developers / investors.
Since its launch, the bank has:
Turned cash flow positive in month 11 (August 2016) and repaid all its accrued debts;
Grown its loan book to over £1.2bn, directly helping with the creation of 5,100 new homes and 4,000 new jobs in the UK;
Secured £364m in investment from a number of investors, including: GIC, Toscafund, Indiabulls, Coltrane, The Clermont Group, and Indiabulls, valuing the company at almost $1.4bn;
Raised deposits from c.13,000 savers;
Won numerous awards and been recognised as one of the UK’s fastest-growing businesses being listed on both the Leap 100 (2017) and Tech City UK’s Future Fifty (2018).
The bank was founded by Rishi Khosla and Joel Perlman, themselves entrepreneurs who were inspired to launch OakNorth following the challenges they faced in securing debt finance from high street banks for their previous business, Copal Amba (which scaled to c.3,000 employees and was acquired by Moody’s Corporation in 2014).
To help fund its lending, OakNorth also offers a range of savings accounts (fixed, easy access and notice) to individuals and businesses (fixed accounts only).
Still want to know more?
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
Director, Property Finance
We are looking for an exceptional Director, Property Finance with a property development focus who will help us achieve our growth targets for the business. Role is based in OakNorth’s London offices.