FinTech profile: OakNorth Bank, Europe's most valuable fintech
This week FinTech Magazine takes a closer look at Europe most valuable fintech, with a US$2.8bn evaluation, OakNorth Bank.
Factbox
Founded: September 2015
Headquarters: London
Nof employees: 130
Founders: Rishi Khosla, Joel Perlman
Profit: £33.9mn (2018)
OakNorth Bank was founded in 2015 by Rishi Khosla and Joel Perlman.
[Founders, Rishi Khosla and Joel Perlman] [Image: Oaknorth]
The bank for entrepreneurs by entrepreneurs
Before the creation of OakNorth, Khosla and Perlman founded Copal Amba, a rapidly growing company that struggled to get financing as it didn't have property to act as security. As the company continued to grow, Khosla and Perlman became aware that this was an issue faced by millions of companies across the UK. In 2014, they sold Copal Amba to Moody's Corporation. From this demand, OakNorth was born. OakNorth is designed to provide business and property loans predominantly for small and medium sized companies. OakNorth has offices in London, Manchester, Gurgaon and Bangalore. Since its creation, it has loaned over £3bn to users, with over 55,000 customers with savings accounts.
Key executives
Cyrus Ardalan
Chairman
Sunil Chandra
CEO
Alok Prasad
Deputy CEO and COO
Cristina Alba-Ochoa
CFO
Amir Nooriala
CSO
SEE MORE:
- OakNorth: staying lean is key to success in fintech
- FinTech Profile: Revolut - the money management disruptor
- FinTech Profile: Canadian challenger bank Tangerine
- Read the latest edition of FinTech Magazine, here!
Did you know?
Earlier this year the company secured an $440mn investment. This is the largest investment of any fintech in European history, according to Fobes.
For more information on all topics for FinTech, please take a look at the latest edition of FinTech magazine.
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