6 years ago

OakNorth Holdings Secures $440 Million Investment from SoftBank Vision Fund and Clermont Group

  • OakNorth Holdings, a UK-based provider of debt finance to businesses and property developers, has secured a $440 million investment from SoftBank Vision Fund and Clermont Group

  • The funding will be used to expand its SME loan origination and credit capabilities to North American banks and lending institutions, and to continue driving the growth of its OakNorth Analytical Intelligence (ON AI) platform

  • OakNorth has lent over $3.7 billion since its launch, directly helping with the creation of 9,500 new homes and 11,000 new jobs in the UK.

      • ProblemFinancial Services

      "Banks struggle to effectively and efficiently lend to small and medium-sized enterprises (SMEs) due to the complexity and time-consuming nature of traditional credit analysis, leading to under-served and overlooked markets."

      Solution

      "OakNorth offers a platform called ON AI that automates the credit analysis process, making it faster and more efficient, allowing banks to serve a broader range of SMEs and unlock more lending opportunities in the underserved market."

      Covered on