SoftBank Investing $440 Million in OakNorth

SoftBank’s Vision Fund is planning to invest in the British banking startup according to sources; if it goes through it will be the largest ever European fintech fundraising; OakNorth is estimated to be valued at $2.8 billion after the deal; OakNorth focuses on lending to small and medium sized businesses and has a loan book of about $3 billion but also licenses its lending systems to other banks across 9 countries; the deal is expected to be announced Friday and comes less than six months after their $100 million raise. Source