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OakNorth

8 Disclosed Funding Rounds $1,041,034,147

7 Participating Investments $37,965,584


Banking, Lending, Financial Services, Finance, Artificial Intelligence, FinTech

OakNorth is the creator of the ON Credit Intelligence Suite - proven cloud software that transforms commercial lending

London, England, United Kingdom, Europe (GB)

Organizations in London in Banking,
Organizations in London in Lending,
Organizations in London in Financial Services,
Organizations in London in Finance,
Organizations in London in Artificial Intelligence,
Organizations in London in FinTech,
Organizations in England in Banking,
Organizations in England in Lending,
Organizations in England in Financial Services,
Organizations in England in Finance,
Organizations in England in Artificial Intelligence,
Organizations in England in FinTech,
Organizations in United Kingdom in Banking,
Organizations in United Kingdom in Lending,
Organizations in United Kingdom in Financial Services,
Organizations in United Kingdom in Finance,
Organizations in United Kingdom in Artificial Intelligence,
Organizations in United Kingdom in FinTech,
Organizations in Europe in Banking,
Organizations in Europe in Lending,
Organizations in Europe in Financial Services,
Organizations in Europe in Finance,
Organizations in Europe in Artificial Intelligence,
Organizations in Europe in FinTech

Investors in London in Banking,
Investors in London in Lending,
Investors in London in Financial Services,
Investors in London in Finance,
Investors in London in Artificial Intelligence,
Investors in London in FinTech,
Investors in England in Banking,
Investors in England in Lending,
Investors in England in Financial Services,
Investors in England in Finance,
Investors in England in Artificial Intelligence,
Investors in England in FinTech,
Investors in United Kingdom in Banking,
Investors in United Kingdom in Lending,
Investors in United Kingdom in Financial Services,
Investors in United Kingdom in Finance,
Investors in United Kingdom in Artificial Intelligence,
Investors in United Kingdom in FinTech,
Investors in Europe in Banking,
Investors in Europe in Lending,
Investors in Europe in Financial Services,
Investors in Europe in Finance,
Investors in Europe in Artificial Intelligence,
Investors in Europe in FinTech

Founded date 01, 2015

Founders Rishi Khosla, Joel Perlman

Operating Status Active

Funding Stage Private Equity

Last Funding Type Private Equity

Also known as OakNorth

Company Type For Profit


Twitter Link

LinkedIN Link

Wikipedia Link

In 2005, our co-founders, Rishi Khosla and Joel Perlman, were looking for a working capital facility to support their growing business, Copal Partners, a financial research firm they’d founded three years previously. They approached numerous high-street banks and kept getting variations of the same response – “the computer says ‘No’”. Despite being a profitable business with strong cash flow and retained clients, none of the commercial banks were willing to lend to them. It was too small a ticket to offset the costs the bank would incur in doing a fundamental assessment of their business and structuring a finance facility for their needs. A few months later through one of their institutional client’s special situations desk, they managed to secure 100x the amount of debt for a dividend recap. So, an institutional division of a bank was able to support them, but the commercial lending part of the bank was not. This experience stuck with them. After they’d scaled Copal Partners to a 3,000-employee business and sold it to Moody’s Corporation (NYSE: MCO) in 2014, they set out to address the funding gap they had experienced first-hand and empower the Missing Middle, through launching OakNorth. OakNorth’s (ON) Credit Intelligence Suite transforms commercial lending by helping banks build deeper relationships with their clients, open new, more profitable opportunities, whilst delivering credit decisions up to ten times faster than traditional models, with lower risk and greater efficiency. Credit Intelligence is a data-driven technology that gives lenders a forward-looking view of the borrower based on expansive and dynamic data sets and scenarios specific to that business, using automated, continuous analysis of multiple drivers across the business, its peer group and the wider economy. This provides an independent, consistent, detailed framework offering deep contextual insight that enables rapid underwriting, immediate stress-testing and more agile and targeted strategic lending. Built over five years by an engineering and credit science team of over 250 people, the ON Credit Intelligence Suite has propelled OakNorth Bank in the UK into the top 1% of banks in developed markets in terms of RORE and efficiency, enabling it to profitably manage a multi-billion-dollar commercial lending portfolio - benefits that banks across the world can now realize. In addition to OakNorth’s own bank in the UK, the software is also being deployed by banks around the world, including: SMBC, PNC Bank, Customers Bank, Old National Bank and Modern Bank in the US, and NIBC and OIMIO in Europe.

Date Round Raised Lead
February, 08, 2019 Venture - Series Unknown $440,000,000 SoftBank Vision Fund
September, 06, 2018 Series B $100,000,000 NIBC Bank N.V., EDBI
March, 07, 2018 Venture - Series Unknown Undisclosed Future Fifty
November, 03, 2017 Series B $117,688,595 GIC
October, 12, 2017 Series B $213,548,809 -------
January, 03, 2017 Series B $33,671,229 -------
November, 11, 2015 Series A $100,416,882 Indiabulls Housing Finance Limited
January, 01, 2015 Seed $35,708,629 -------

OakNorth Participated In the Following Investment Rounds (7)

Organization Name Lead? Round Partners Participating Raise Date
Staycity Yes Debt Financing ------- $20,923,785 January, 16, 2020
Riverside Capital Yes Debt Financing ------- $3,006,041 January, 09, 2020
LV Care Group Yes Debt Financing ------- $26,232,949 January, 07, 2020
BXTR Yes Debt Financing ------- $1,414,270 October, 28, 2019
Ocea Group Yes Debt Financing ------- $14,195,277 July, 25, 2019
WMG Investments Yes Debt Financing ------- $20,966,784 May, 21, 2019
NetPay No Debt Financing ------- $1,389,253 January, 18, 2018

OakNorth Investors (13)

Investor Lead? Round Participating Raise Date Partners
Clermont Group No Venture - Series Unknown $440,000,000 February, 08, 2019 -------
SoftBank Vision Fund Yes Venture - Series Unknown $440,000,000 February, 08, 2019 -------
GIC No Series B $100,000,000 September, 06, 2018 -------
Coltrane Asset Management No Series B $100,000,000 September, 06, 2018 -------
NIBC Bank N.V. Yes Series B $100,000,000 September, 06, 2018 -------
Clermont Group No Series B $100,000,000 September, 06, 2018 -------
EDBI Yes Series B $100,000,000 September, 06, 2018 -------
Future Fifty Yes Venture - Series Unknown Undisclosed March, 07, 2018 -------
GIC Yes Series B $117,688,595 November, 03, 2017 -------
Toscafund Asset Management No Series B $213,548,809 October, 12, 2017 -------
Clermont Group No Series B $213,548,809 October, 12, 2017 -------
Coltrane Asset Management No Series B $213,548,809 October, 12, 2017 -------
Indiabulls Housing Finance Limited Yes Series A $100,416,882 November, 11, 2015 -------