B-North has now ended and was successfully overfunded


FinTech Business - North West


About B-North

B-North is combining market-leading cloud-native technology with people to deliver a superior banking service to the SME market for clients typically seeking between £0.5 to £5M loans.

B-North will combine market-leading personal service, best in class delivery and exceptional speed of funding. B-North’s highly configurable lending platform is scalable and supports rapid evolution, accelerated product development capabilities and business agility.

The Market

The SME business banking market presents an attractive, tangible opportunity of a large, clearly defined target market, that is poorly served by the High Street banks and is valued at circa £154bn with over £48bn of annual unmet market demand.The market for the delivery of bank debt (£0.5m+) to SMEs is evolving rapidly.

New banking technology and the inherent difficulty of integrating it with legacy systems is resulting in a new era of challenger banks. B-North considers its speed and flexibility, supported by its unique business model and innovative technology, as key competitive differentiators.The market analysis does not include some of the most recent fintechs (e.g.Starling, Monzo) and Peer-to-Peer lenders (e.g. Funding Circle) as their SME loan offerings are substantially lower than the £0.5m + segment being targeted by B-North.

The Company

B-North will focus on solid bankable SME lending opportunities in the £0.5m+ to £5M loan range. The service will be delivered using the B-North’s Regional Pod model where each Pod contains the key decision makers to work with the Broker/SME customers to fully understand their borrowing requirements.B-North’s delivery mechanism offers rapid initial credit decisions and simultaneous full approval, valuation and legal processes, which will provide customers with certainty, flexibility and fast access to funds, with time to cash predicted to be days or weeks rather than months.

The Team

B-North has assembled an impressive highly experienced and ambitious team with deep knowledge of the business lending segment and a track record of securing banking licences. The team are experienced in scaling profitable banking/FS businesses and driving substantial quality asset growth.

The founding team comprises highly experienced banking and financial services professionals with an extensive track record spanning new bank startups (Atom & First Direct), business banking, retail banking, regulation, risk and compliance and business development amongst others.

The Plan


  • B-North raised seed capital of over £4m including a six figure investment from the Greater Manchester Combined Authority.

  • The founders and management invested over £1m in seed capital.

  • Experienced board and management team with experience of building a bank from start-up.

  • A large target market valued at over £154bn with £48bn annual unmet demand.

  • The team have a strong demonstrable track record in business banking and retail deposit-taking.

  • Experience of gaining a banking licence - Importantly, key members of the team have significant experience in gaining a banking licence, launching and scaling a challenger bank.

  • Clear value proposition - focus, speed, flexibility, competitive risk-based pricing and a customer-centric approach to deliver a best in class business banking solution.

  • Focused target market - Opportunity to invest at an early stage in highly scalable ‘business-focused’ bank with a large, clearly defined underserved target market.

  • Growth focused forecast - investment will drive the business towards launch with base case return for investors forecast at 12.3 x money on money.


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£337,865 invested by 112 online investors
£2,477,485 invested by 55 Professional Investors.