British fintech startup OakNorth Bank, specializing in loans for small and medium-size business, has topped the Financial Times list of Europe’s 1000 fastest-growing companies.

The list was put together in cooperation with Statista, based on the information about the revenue which the companies recorded between 2015 and 2018. The compound annual growth rate of OakNorth Bank over three years made 623%.

Banks.am reported about OakNorth Bank in April 2019, when the company announced it had raised USD 440 million. That round took OakNorth’s total primary and secondary funding to over USD 1 billion, more than any other fintech in Europe. The company intended to use the investment to launch its lending operations in the U.S.


OakNorth’s services also help its partners to monitor their loan portfolios – a strength that enabled OakNorth to profitably lend over USD 3.7 billion to British businesses without a single default or late payment since its launch in September 2015. The company’s operation created 11,000 new jobs in the UK.

According to Credits.ru, lending is just a part of OakNorth business. The startup also sells licenses for use of its Analytical Intelligence-based platform. Banks all over the world employ the platform to create databases of credit records of their clients.

The second fastest-growing company in Europe, as named by Financial Times, is Finnish food delivery service Wolt, and the Estonian taxi service Bolt sits third.

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