UK-Based OakNorth, Using AI Credit Platform To Provide Debt Finance

With each passing year, the fintech sector is providing faster, flexible and secured consumer experience, and is protecting against the risks and vulnerabilities of traditional insurance and loans. In fact, the global fintech market size is expected to grow to $124.3 billion by the end of 2025 at a CAGR of 23.8%. With a vision of providing small and medium-sized growth companies with debt finance, along with aiding them in competing against the large corporations, UK-based OakNorth is utilising artificial intelligence and machine learning to fulfil the dream. Since its inception, OakNorth has secured over $1 billion from leading investors which has been used to launch lending operations and others such. After meeting each other at college in the year 2002, Khosla and Perlman decided to launch their own business that could solve the challenges they had to face in securing debt finance from high street banks during their previous business -- Copal Amba which scaled to 3,000 employees and was later acquired by Moody's Corporation in 2014.