OakNorth raises $440 million from SoftBank and Clermont

TechCrunch | 2/8/2019 | Staff
ArceusArceus (Posted by) Level 3
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British startup OakNorth has raised a $440 million funding round from SoftBank’s Vision Fund as well as the Clermont Group. The company is creating a digital bank and focuses on loans for small and medium enterprises and the technology behind those loans.

Today’s funding round is the biggest funding round in a European fintech company. OakNorth has raised $848 million in primary funding since its creation.

Funding - Round - Company - Company - Loans

With this funding round, the company plans to double down on what it already does. The company can issue fast and flexible loans to businesses and property developers in the U.K. OakNorth uses big data and machine learning to assess the risks and monitor its portfolio. The company has lent more than...
(Excerpt) Read more at: TechCrunch
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