SoftBank invests in UK fintech OakNorth, giving it $2.8B valuation

- Advertisement -

British digital bank OakNorth said Friday it secured $440 million in an investment round led by Japan’s .

The firm, which lends to small-to-medium enterprises through its digital platform, said it had raised $390 million from SoftBank’s $100 billion Vision Fund, with the remaining capital coming from Clermont.

The deal gives the three-year-old firm an eye-watering $2.8 billion post-money valuation, making it Europe’s most valuable private fintech group.

OakNorth’s announcements confirmed reports overnight that said the company had received a new cash injection from the Japanese tech giant.

Speculation over the funding began late last year after a Times of London report said that SoftBank was in talks with OakNorth and fellow British fintech firm Revolut about investing in both businesses via its technology investment fund.

- Advertisement -

“We decided that, with (SoftBank’s) capital, and with their network, that we would be able to significantly expand to growth plans we have for the business,” Rishi Khosla, co-founder and chief executive of OakNorth, told CNBC over the phone.

“Aligned with our mission to support the financing needs of growth SMEs across the globe, we thought SoftBank… would be a really good investor to have alongside our existing strong investors.”

Source

Previous Articles:

- Advertisement -

Latest News

Ethereum Surges Above $3,400 Amid Investor Risk Appetite and ETF Hopes

Ether (ETH) prices rose above $3,400 on July 16, reaching a six-month high. Analysts link...

Trump-Backed Crypto WLFI Opens Trading to Public After Vote

World Liberty Financial is opening its WLFI crypto token to the public after a...

Apple Stock Down 16% in 2025, Analysts Still See Upside Potential

Apple shares have fallen 16% in 2025, marking it as one of the weakest...

Calgary Police Charge Man in $300K Cryptocurrency Scam Targeting Senior

A senior in Calgary lost over $300,000 after falling victim to a cryptocurrency scam. Jeremy...

Bitcoin Pioneer Adam Back Sells 30,000 BTC to Wall Street Giant

Adam Back plans to sell 30,000 Bitcoin to Cantor Fitzgerald through a SPAC. This deal,...

Must Read

What Is Binance Earn?

As someone who is passionate about cryptocurrency, I am always on the lookout for new opportunities to grow my portfolio. That's why I was...