Millennial Money Matters podcast: Episode 18, OakNorth

By Ryan Weeks on 22nd November 2017

Challenger Banks

 

Millennial Money Matters podcast: Episode 18, OakNorth

In episode 18 we look at OakNorth. One of the newer of the UK's challenger banks and the very newest of its unicorns. A unicorn is a privately owned technology startup with a valuation north of 1 billion dollars. OakNorth recently nabbed 154 million pounds in an equity fundraise, tipping it into unicorn territory. It then raised another 90 million pounds courtesy of GIC, Singapore's sovereign wealth fund. OakNorth is focused on lending to high growth businesses and property developers and the entrepreneurs behind many of its borrowers are bright young things, hence the millennial connection. the challenger bank has grown its loan book to over 800 million pounds since launching in late 2015 and makes great play of ​its technology and underwriting capabilities. 

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