B-North are a start-up established to build a challenger bank focused on lending to the small and medium sized enterprises (SMEs) that drive the UK economy.
The experienced board and management team at B-North are combining market-leading cloud-native technology with people to deliver a superior banking service to the SME market for clients typically seeking between £0.5 to £5M loans.
In June 2018, Growth Capital Ventures began working with the start-up established to build a challenger bank to raise seed capital of circa £4.5 million. This initial round of funding enabled B-North to progress with their banking license, assemble a highly-experienced and ambitious management team, and further develop their FinTech enabled lending platform. Following on from the seed round, GCV have continued to support B-North is raising further funds through a second round of investment in December 2019, resulting in a further £2.8 million of investment.
The latest round of investment places B-North in a position to further strengthen the existing management team and continue building the infrastructure ready for launching the bank later in the year.
Sector: Fintech & Banking
Total Investment: £6.8 million*
Latest Investment: January 2020
Current Status: Growth Phase
Asset Class: Venture Capital
*Three funding rounds from 2018 to 2020