SMB

After the financial crisis, banks stopped lending to mid-sized businesses. Just stopped. Companies with $5 million to $50 million in revenue couldn't get a loan. We built OakNorth for them.

Europe has 25 million SMBs. Most of them bank with institutions that haven't updated their software since 2005. That's not a market gap — that's a canyon.

We're not trying to be a consumer neobank. N26 and Revolut fight over individuals. We want every freelancer, every startup, every SMB in Europe. Different customer. Different product. Different business.