Oakbrook Finance scores £142m for lending platform

Consumer lending platform Oakbrook Finance has collected £142m in funding from JP Morgan and Atalaya Capital Management.

With the funds, the company hopes to bolster its position in the market.

The UK-based FinTech company is a digital consumer finance and technology company that helps consumers that want to borrow and investors that wish to lend.

Its platform offers loans with APR’s randing from 6.9% to 34.9% and loan amounts up to £15,000. Users can complete an online application to check eligibility, with money received within a couple of hours.

The platform also offers an omni-channel account management, two repayment breaks each year, repayment date changes and overpayments with no penalties.

It has a team of 170 and is majority owned by venture builder Blenheim Chalcot.

Oakbrook CEO Luke Enock said, “We are delighted to be working with J.P. Morgan and Atalaya as we continue to invest in our advanced analytics and our technology business, O6K, to become a leading non-bank provider of consumer lending solutions.

“This transformational next step builds on an excellent financial and operational performance in 2021 and further strengthens Oakbrook’s reputation across the industry. It will help the Group accelerate growth and scale at pace.”

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