Oxbury Bank secures £25m funding line from British Business Investments

By Oliver Smith on Wednesday 31 August 2022

Alternative LendingDigital Banking

Supporting some £250m worth of lending for farmers and the rural economy.

Oxbury Bank secures £25m funding line from British Business Investments
Image source: Randy Fath/Unsplash.

Agricultural bank Oxbury has secured a £25m credit facility from British Business Investments, which it says will help it lend an additional £250m to rural SMEs.

The funding, which comes from the commercial subsidiary of the British Business Bank, follows Oxbury’s £20m equity raise in July.

Tim Coates, co-founder and chief customer officer at Oxbury, said the new funding line would “help accelerate Oxbury’s support for the rural economy and help farmers and food producers address the twin challenges of food security and the transition to low-carbon nature-friendly production.”

Oxbury’s relationship-led approach, enabled by our proprietary Oxbury Earth Agtech banking platform, is essential in serving the needs of the small and medium businesses that are the lifeblood of this crucial part of the British economy.”

In total, the bank has now raised £93m in debt and equity from investors including Frontier Agriculture, Hutchinsons Group and Hambro Perks.

To date, Oxbury says it has £650m worth of completed or in progress lending, and is well on its way towards lending £1bn by the end of 2024.

Today the bank reiterated its forecast to break even by the end of 2022.

Sign up for our newsletters


Your daily 7am download of all things alternative finance and fintech.

Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivered Monday at midday.

AltFi's new weekly US newsletter breaking down the ins and outs of America's burgeoning fintech sector. Delivered Monday 9am EST/ 6am PST.

Companies in this Article:

British Business Bank
Oxbury Bank

More like this:

The AltFi Awards 2022: Here are the winners!

Editor's Pick

2 December 2022
Oliver Smith

Curve and Credit Suisse ink $1bn deal to expand BNPL products

Editor's Pick

7 December 2022
Daniel Lanyon

Allica Bank raises £100m Series C

5 December 2022
Daniel Lanyon