Bank North has now raised c.£30m of capital and secured its banking licence (24 August 2021). What was an uncertain “jam tomorrow” story will soon be generating income. Bank North will cherry-pick the huge, profitable SME lending market using state-of-the-art technology, and accessing the £20bn p.a. commercial broker market. It has been recruiting experienced frontline bankers, and central support and control staff. The pandemic has delayed delivery (by c.18 months), but the relative market position has improved. This gives confidence that a valuable business is being created. There is a current equity raise for retail investors on GrowthFunders.
If you'd like to be introduced to the team at Bank North, get in touch.Request a meeting