OakNorth raises $440 million from SoftBank and Clermont –
Summary
OakNorth has raised $848 million in primary funding since its creation. 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 $3.7 billion overall, and there hasn’t been a single default or late payment. Banks leverage OakNorth Analytical Intelligence platform for their own loan books, from origination to credit analysis and portfolio monitoring.
Funding
Amount
$440.0M
Total raised
Date
February 8, 2019
Announcement date
Investors
OakNorth, Clermont Group, SoftBank Internet and Media, Inc.
Lead investors
Company
https://www.oaknorth.com
Funded company
Classifications
industries
No industries detected
applications
No applications detected
AskAI Classifications
Labels
No AI classifications detected