OakNorth Bank

OakNorth Bank is a UK bank for scaling businesses, enabling intrepid entrepreneurs and connecting savvy savers with the tools and tech.


Financial and Banking  

GB United Kingdom



OakNorth Bank is a UK-based financial institution that specializes in providing banking services to scaling businesses. Founded in 2015 by entrepreneurs Rishi Khosla and Joel Perlman, who previously founded Copal Amba, the bank offers loans and both business and personal savings accounts. With a focus on businesses with turnovers typically ranging from £1m to £100m, OakNorth Bank aims to empower entrepreneurs and facilitate their growth by providing tailored financial solutions.

The bank has gained recognition for its impressive growth and success. In 2020, it secured the top spot on the Financial Times' FT 1000: Europe's Fastest Growing Companies list. Furthermore, in 2022, OakNorth Bank reported a substantial increase in pre-tax profits, reaching £134.5m, marking a remarkable 73% growth.


OakNorth Bank has a history marked by significant milestones and strategic partnerships. In March 2015, the bank obtained a full banking license from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). Following this achievement, OakNorth Bank launched its operations, offering flexible debt financing and a range of savings accounts in September 2015.

The bank has assembled a distinguished Board, led by Cyrus Ardalan as Chairman. Notable board members include Edward "Ted" Berk, a faculty member at Harvard Business School and a former managing director of Bain Capital, as well as Robert Burgess. Over time, OakNorth Bank further strengthened its leadership team with key appointments such as Rajesh Gupta, who joined as CFO in February 2021, bringing his experience from Kensington Mortgages. Additionally, Carolyn Schuetz, former Chief Operating Officer for Group Retail Banking at HSBC, and Timo Boldt, co-founder of Gousto, were appointed as Non-Executive Directors in July 2021 and August 2022, respectively.

The bank's Advisory Board boasts renowned individuals from the financial industry. Lord Adair Turner, former Chairman of the Financial Services Authority, joined OakNorth Bank's advisory board in May 2017. He had previously served as a senior independent advisor to the bank since its inception. Martin Stewart, former Director of Banks, Building Societies & Credit Unions at the Bank of England, joined the advisory board in October 2018. In January 2020, Philip Hammond, the former UK Chancellor, became the newest member of OakNorth's advisory board.

OakNorth Bank made technological advancements by becoming the first fully cloud-hosted bank in May 2016. Collaborating with Amazon Web Services (AWS), the bank drove the development forward, leveraging cloud infrastructure to enhance its operations.

In June 2021, OakNorth Bank launched the 'Mentorpreneurship' program in partnership with the London School of Economics. This unique initiative aimed to support socially conscious start-ups and promote entrepreneurial thinking through mentorship.

The bank expanded its reach through acquisitions. In December 2021, OakNorth Bank completed its first acquisition by acquiring a 100% stake in Fluidly, an accountancy cash flow provider. This strategic move further enhanced the bank's capabilities. In October 2022, OakNorth Bank acquired a 50% stake in ASK Partners, a specialist property lender, to strengthen its support for UK housebuilders and property entrepreneurs.


The mission of OakNorth Bank is to empower and support scaling businesses by providing them with the financial tools, resources, and expertise they need to thrive. The bank is dedicated to removing barriers and facilitating financial opportunities for ambitious entrepreneurs and savvy savers.

By leveraging data-driven technology and a customer-centric approach, OakNorth Bank strives to maximize the growth potential of the UK's most ambitious businesses. The bank believes in fostering a diverse economy and has played a significant role in job creation across various industries.


The vision of OakNorth Bank is to revolutionize the banking industry by combining cutting-edge technology, data-driven insights, and a deep understanding of businesses to deliver exceptional financial solutions. The bank envisions a future where banking is barrier-free, financial opportunities are accessible to all, and growth potential is maximized.

OakNorth Bank aims to be a catalyst for positive change in the entrepreneurial landscape, enabling businesses to realize their full potential. 

Through its innovative approach and customer-centric mindset, OakNorth Bank aims to redefine the traditional banking experience, offering personalized services, timely decision-making, and seamless access to capital. The bank's vision is rooted in its belief that financial institutions should be enablers of success, providing the necessary tools and support for businesses and individuals to thrive.

Key Team

Rishi Khosla (Founder and CEO)

Joel Perlman (Co-Founder, Senior Managing Director)

Cyrus Ardalan (Chairman)

Rajesh Gupta (CFO)

Timo Boldt (Non-Executive Director)

Ted Berk (Non-Executive Director)

Robert Burgess (Non-Executive Director)

Carolyn Schuetz (Non-Executive Director)

Recognition and Awards
In 2020, the bank was recognized as the MoneyComms Best Internet Savings Provider and was highly recommended for the Best Internet Account Provider at the Moneyfacts Awards. Additionally, OakNorth Bank ranked first in the prestigious FT1000 list, which recognizes Europe's fastest-growing companies. In 2021, OakNorth Bank's credit team was honored with the Credit Team of the Year award at the MoneyAge National Credit Awards, highlighting their expertise in credit management and lending practices. The bank's commitment to the seniors housing sector was acknowledged when it received the Senior Housing Capital Partner award at the HealthInvestor Seniors Housing Awards. Furthermore, OakNorth Bank's investment prowess was recognized in the Investment Award category at The Estates Gazette Tech Awards. In 2022, OakNorth Bank continued to receive accolades. It was named the winner in the Professional Services - Finance category at TheBusinessDesk's Business Masters Awards in Yorkshire, East Midlands, and West Midlands, showcasing its excellence in providing financial services. The bank's alternative finance offerings and successful deals earned them the titles of Alternative Finance Provider of the Year and Private Equity/Venture Capital Deal of the Year at the Insider Media Central & East Dealmakers Awards. Additionally, OakNorth Bank was listed in Deloitte's UK Technology Fast 50, highlighting its rapid growth and technological innovation.

Products and Services

Loans: OakNorth Bank is known for providing flexible and customized loans to businesses across various sectors. With a focus on scaling businesses with turnovers ranging from £1m to £100m, the bank has lent over £8.5bn to date. They offer loans in the range of £0.5m to £25m, helping businesses finance expansion, investments, and working capital needs. OakNorth Bank has supported well-known brands in the restaurant industry, such as Leon Restaurants, Brasserie Blanc, and Ottolenghi's restaurant and deli chain, as well as other prominent businesses like Deliciously Ella, Z Hotels, and Staycity.

Savings: OakNorth Bank provides a range of savings accounts for both businesses and individuals. These include fixed term savings accounts, notice accounts, easy access accounts, as well as fixed rate and easy access cash ISAs. Customers can manage their savings accounts conveniently through the bank's online platform and mobile app. By offering competitive interest rates and flexible account options, OakNorth Bank helps individuals and businesses maximize their savings and achieve their financial goals.

OakNorth Bank has a presence in multiple locations, including offices in London, Manchester, Birmingham, Bristol, Leeds, and East Anglia. They also have customer-facing teams in Bengaluru, Gurugram, and Hyderabad, expanding their reach to provide efficient and personalized services.

OakNorth Bank
Leadership team

Rishi Khosla (Founder and CEO)

Joel Perlman (Co-Founder, Senior Managing Director)

Cyrus Ardalan (Chairman)

Rajesh Gupta (CFO)


Financial and Banking

Products/ Services
loans, savings account
Number of Employees
100 - 500
London, England
Company Type
Private company limited by shares or Ltd
Company Registration
Social Media

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