Oxbury Bank, a UK-based emerging bank focused on the agricultural sector, has raised 20 million in shares from new and existing investors.
Oxbury Bank Raises 20m
The round was attended by founder investors Frontier Agriculture and Hutchisons Group, as well as existing technology investors Hambro Parks, Grosvenor Foods and AgTech.
Only three months after Oxbury Bank raised 31m in a Series C round and acquired core software provider Naqoda.
The new cash injection has raised the company’s total capital to 68m.
The latest funding will be directed to the development of Oxbury Earth’s core banking platform to help fund UK farmers.
Oxbury claims that in the first 15 months of launch, 500m worth of loans have been completed or are in progress, “already disrupting existing banks.” Banks say they expect a break-even point by the end of the year.
James Farrer, Co-Founder and Chief Executive Officer of Oxbury, said:
“They are essential to food production and we support them at a very practical level with a team rooted in this area.”
Oxbury’s Fintech platform provides financing and data solutions to help farmers achieve “sustainability, history and productivity gains across their agricultural and food supply chains.”
Banks claim that transforming their first 500 million business will help customers invest in farms, back with short-term cash flow funding, and invest in projects that respond to climate change. ..