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UK agriculture-focused challenger Oxbury Bank lands £100m from British Business Bank | Fintech InShorts: Latest fintech news, analysis by experts

UK agriculture-focused challenger Oxbury Bank lands £100m from British Business Bank

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UK agriculture-focused challenger Oxbury Bank lands £100m from British Business Bank

November 2, 2023

Oxbury Bank, a UK-based challenger in the agriculture sector, secures a £100 million ENABLE Guarantee deal with the British Business Bank.
Launched in February 2021 and headquartered in Chester, Oxbury Bank offers flexible lending and asset finance solutions tailored for farming businesses through its digital banking platform.
In the last three years, Oxbury Bank has lent out £750 million and collected over £1 billion in deposits.
The ENABLE transaction enhances protection for their existing lending portfolio, enabling them to provide approximately £45 million in additional lending to small and medium-sized agricultural businesses.
Reinald de Monchy, Managing Director of Guarantee and Wholesale Solutions at the British Business Bank, highlights that this deal allows Oxbury to provide support to small businesses more rapidly.
Oxbury Bank has raised over £120 million in investments since its launch and has plans for further capital-raising initiatives to sustain lending growth, including a £25 million Tier 2 capital facility from British Business Investments secured in August 2022.

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