Oaknorth: SoftBank Vision Fund-backed unicorn startup set for growth - Business Insider

This story requires our BI Prime membership. To read the full article,

Chandra was specifically brought in to ramp up the startup's scaling plans as it looks to strengthen its grip on an estimated $7.9 trillion market. The fund wants to be a kingmaker, but turbulence at its most high-profile investments — Uber, WeWork — has raised questions about its investment strategy.OakNorth loans money to small- and medium-sized businesses. It raised $390 million from the Vision Fund, as part of a wider $440 million round in 2018, one of the biggest for a UK startup.

Chandra met Khosla six months ago in New York and took over to help build what he describes as a "generational company." The company has a full banking license in the UK, but its focus is bespoke lending to companies around the world. last year having lent more than £2.5 billion since launch. Mid-market loans typically include stronger covenant packages, more frequent and transparent financialIn basic terms, the lending conditions of these products are generally superior to other forms of corporate debt with the upshot being that OakNorth can be more stringent in its terms. This may also explain the sector's low default rates, with OakNorth claiming to have never had one so far. That could be tested in the event of an economic downturn, but for now things are rosy.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SoftBank's Vision Fund had a rough week: Zume, Wag, Katerra, Oyo - Business InsiderInvestors are beginning to question SoftBank's investments, even as business executives depart their SoftBank-backed companies.
Source: BusinessInsider - 🏆 729. / 51 Read more »

The Payments Ecosystem Report from Business Insider - Business Insider[NEW REPORT] The Payments Ecosystem: BIIntelligence examines the industry's ecosystem today, highlights three trends changing payments, and forecasts growth through the next five years
Source: BusinessInsider - 🏆 729. / 51 Read more »

SoftBank Pepper robot's trash talk affected humans, study shows - Business InsiderA new study from Carnegie Mellon University shows that people's performance can be affected by insults, even if they're somewhat gentle. They needed a study for this? Humans, you're being manipulated and experimented on by Predatory Emotional Extortion tactics. WARNING WARNING.... muud
Source: BusinessInsider - 🏆 729. / 51 Read more »

Leaked data shows finance startup Curve struggled with active users - Business InsiderLeaked numbers show hot finance startup Curve struggled with active users before crowdfunding $7.7 million on the promise of big growth
Source: BusinessInsider - 🏆 729. / 51 Read more »