Windsor Drake
Transaction · Lending Tech (SMB) · 2020

SMBC / OakNorth 2020

Sumitomo Mitsui Bank acquired OakNorth for $30M on November 24, 2020.

Target
OakNorth
Acquirer
Sumitomo Mitsui Bank
Deal value
$30M
Announced
November 24, 2020
Sub-sector
Lending Tech (SMB)

Transaction overview

  • Sumitomo Mitsui Bank announced the acquisition of OakNorth on November 24, 2020 for $30M.

Strategic rationale

Japanese bank acquires stake in UK fintech to boost commercial lending via credit intelligence software platform and strengthen alignment with innovative SME lender.

Deal terms & multiples

Deal value
$30M
Target revenue
Not disclosed
Target EBITDA
Not disclosed
EV / Revenue
Not disclosed
EV / EBITDA
Not disclosed
Announcement
November 24, 2020
Acquirer
Sumitomo Mitsui Bank (Strategic)
Sub-sector
Lending Tech (SMB)

Sources

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