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Oxbury raises £20m for AgTech core platform

Oxbury raises £20m for AgTech core platform

Agricultural challenger bank Oxbury has raised £20 million to continue the development of its proprietary AgTech core platform.

Frontier Agriculture and Hutchinsons Group as well as Hambro Perks and Grosvenor Food & AgTech joined the round for Oxbury, which has now raised £68 million.

Calling itself the UK's only AgTech bank, Oxbury has £500 million of lending completed or in progress in the 15 months of its operations.

The lender has also developed a banking platform - Oxbury Earth - to power a range of data solutions for farming and supply chain customers, helping them improve sustainability, provenance and productivity performance.

In March, the bank bought low code development outfit Naqoda as it looks to become a software-as-a-service provider for the wider fintech and banking industry.

James Farrar, CEO, Oxbury, says: "This additional funding gives us huge confidence in our ability to grow both the bank and our new AgTech banking platform, Oxbury Earth."

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