FinTech profile: OakNorth Bank, Europe's most valuable fintech

By Amber Donovan-Stevens
This week FinTech Magazine takes a closer look at Europe most valuable fintech, with a US$2.8bn evaluation, OakNorth Bank. Factbox Founded: September...

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

LinkedIn

Sunil Chandra

CEO

LinkedIn

Alok Prasad

Deputy CEO and COO

LinkedIn

Cristina Alba-Ochoa

CFO

LinkedIn

Amir Nooriala

CSO

SEE MORE:

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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