Challenger bank OakNorth says it just closed the largest funding round of any UK fintech firm to date

Challenger bank OakNorth says it just closed the largest funding round of any UK fintech firm to date

British challenger bank OakNorth said Friday that Singaporean sovereign wealth fund GIC would take a 10 percent stake in the firm. The state-owned investor has poured £90 million ($120 million) into the financial technology (fintech) company. Combined with another investment the lender scored last month, a total of £244 million ($318 million) has been raised. "If you aggregate the two announcements about the primary and secondary rounds, it is the largest U.K. fintech financing to date," OakNorth Chief Executive Rishi Khosla, told CNBC Friday. On Thursday, another U.K. fintech firm, Transferwise, said it had raised $280 million from asset […]