Home » General World News » Entrepreneur-focused bank OakNorth hits ‘unicorn’ status in funding deal

Entrepreneur-focused bank OakNorth hits ‘unicorn’ status in funding deal





OakNorth founders Rishi Kholsa, left, and Joel Perlman.

LONDON — Entrepreneur-focused bank OakNorth has raised £154 million from Singapore investment group The Clermont Group, UK hedge fund Toscafund, and Coltrane Asset Management.

The consortium has purchased close to a 16% stake in the two-year-old business, valuing London-headquartered bank at £934 million ($1.3 billion).

It means OakNorth has reached so-called “unicorn” status — a private startup valued at over $1 billion. Earlier this year tech-focused investment bank GP Bullhound named OakNorth as a fintech startup it believes could one day be worth over $1 billion.

OakNorth was founded in 2015 as a “bank for entrepreneurs, by entrepreneurs.” It was founded by read more >>>

Source:: BusinessInsider.Com

Comments are closed.