06 November 2023

Oxbury Bank lands £100m from British Business Bank

Written By FinTech Alliance in Investment

Oxbury Bank lands £100m from British Business Bank

Oxbury Bank, a UK-based challenger with a focus on agriculture, has entered a £100 million ENABLE Guarantee deal with British Business Bank.

In brief:

-Launched in February 2021 and based in Chester, Oxbury Bank provides flexible lending and asset finance solutions, specifically for farming businesses, through its digital banking platform.

-In the last three years, it claims to have lent out £750 million in total committed and in-progress lending and garnered over £1 billion in deposits.

-With the latest ENABLE transaction, the guarantee provides protection to an existing portfolio of lending, allowing the lender to originate around £45 million of additional lending to SME agricultural businesses.

What does this mean?

Commenting on the deal, Reinald de Monchy, managing director, guarantee and wholesale solutions, British Business Bank, says that by enabling Oxbury to “seed the transaction with existing lending allows them to provide additional lending to small businesses more quickly”.

Read more here.

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