Business Companies 24 Sep 2019 Rishi Khosla’s ...

Rishi Khosla’s OakNorth leads fintech boom

DECCAN CHRONICLE. | ADITI KHANNA
Published Sep 24, 2019, 1:02 am IST
Updated Sep 24, 2019, 1:02 am IST
Among fintech investment deals on a global level, London has taken top spot in 2019, with a total of 114 deals.
Rishi Khosla
 Rishi Khosla

London: An Indian-origin entrepreneur’s London-headquartered start-up is leading the UK capital’s financial technology boom as it overtakes New York in the sector, according to a report released on Monday.

Among fintech investment deals on a global level, London has taken top spot in 2019, with a total of 114 deals.

 

In the first eight months of 2019 alone, over $2 billion has been invested in London-based businesses across 114 deals, surpassing totals seen in any previous year, notes ‘A Fine Year for Fintech: Global Trends from a UK Perspective’ by London & Partners — the Mayor of London’s promotional agency.

The data shows that Indian-origin entrepreneur Rishi Khosla’s start-up OakNorth, a scale-up business lender which uses an artificial intelligence model to provide loans for small/medium sized companies to be able to grow their businesses, brought in $440 million into London.

— PTI

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