# OakNorth Bank

OakNorth Bank is a Digital bank based in London, United Kingdom.

## Overview

- **Organization type:** Digital bank
- **Headquarters:** London, United Kingdom
- **Region:** North America
- **Address:** London, United Kingdom
- **Founded:** 2015
- **Assets under management:** Undisclosed
- **Website:** oaknorth.co.uk
- **LinkedIn:** https://www.linkedin.com/company/oaknorth

## Regulatory record

- **Reports private funds:** No

## About

OakNorth is a digital bank founded by entrepreneurs, for entrepreneurs, focused on serving the lower mid-market. Since its launch in the UK in 2015 it has supported growing businesses with over $17 billion in loans. Its lending spans Commercial Real Estate, Commercial & Industrial, and fund finance, and it has a representative office in New York.

## Sectors

- Enterprise Software
- FinTech
- Real Estate
- Private Credit

## Offices

- Manchester
- Birmingham

## People

- Rishi Khosla — Co-Founder & CEO
- Joel Perlman — Co-Founder & Senior Managing Director

## Questions

### Who runs investment decisions at OakNorth?

Co-founders Rishi Khosla and Joel Perlman lead the firm. Khosla serves as CEO, while Perlman is Senior Managing Director. Credit decisions run through a central committee supported by sector-focused underwriting teams, rather than a single CIO. The pair previously built Copal Amba, a financial-data firm sold to Moody's in 2014.

### How does OakNorth source its deal flow?

The firm sources primarily through a network of UK accountants, corporate-finance advisors, and direct outreach to growth-stage companies. Its lending is concentrated in the mid-market, where high-street banks have retrenched. OakNorth also receives referrals from private-equity sponsors and venture-capital investors whose portfolio companies need debt facilities.

### Is OakNorth a bank, a fintech, or something else?

Structurally, OakNorth is both. It holds a UK banking license and takes retail deposits, which fund a commercial-lending book. Simultaneously, it operates a SaaS subsidiary that licenses its credit-analysis platform to other banks globally — a revenue stream entirely separate from the lending balance sheet. This hybrid model separates it from pure-play neobanks and traditional lenders.

### Does OakNorth raise external funds or only lend from its balance sheet?

OakNorth lends from its own deposit-funded balance sheet but also manages institutional-credit vehicles that allow external allocators, including family offices and pension funds, to participate in larger transactions. The exact AUM of those vehicles is not publicly disclosed.

### Where does the underlying capital come from?

The bank is privately held, with backing from institutional investors including SoftBank's Vision Fund, the Clermont Group, and several family offices. Khosla and Perlman retain significant ownership after their exit from Copal Amba. The firm has not disclosed a single-family-wealth origin.

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- [Liberty Media Corporation](https://altss.com/profile/liberty-media-corporation)

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Last updated: 2026-08-11T15:07:41.444Z

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