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SMBC invests in fintech OakNorth

The US$30m investment will drive data-backed lending in the Japanese bank's key markets in South-east Asia, such as Indonesia

Kelly Ng

Kelly Ng

Published Thu, Nov 19, 2020 · 09:50 PM

Singapore

GIC-backed fintech OakNorth has secured a US$30 million investment from SMBC, which will drive data-backed lending in emerging markets such as Indonesia.

The Japanese bank's investment via a secondary sale comes amid a recent offloading by Indiabulls Housing Finance at a 25 per cent discount to its previous valuation.

SMBCBanksFintechGIC

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