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AgTech bank Oxbury breaks even

AgTech bank Oxbury breaks even

British AgTech bank Oxbury has broken even just two years after launch and is on target to hit £1 billion in lending by next year.

The bank has total committed and in progress lending exceeding £850 million, meaning it is now forecast for a full year of profitability in 2023.

Oxbury says growth has come from long-term lending, delivered via it team of on-farm relationship managers as well as working capital delivered via principal distributors across the UK.

The challenger has developed a propriety core banking platform, called Oxbury Earth that, it says, enables rapid product development to help farmers and the food supply chain deliver improved sustainability, provenance and productivity.

James Farrar, CEO, Oxbury, says: "Oxbury’s personal relationship-led approach, supported by our Oxbury Earth banking platform, is essential in serving the needs of Britain’s rural economy."

Comments: (1)

Andrew Smith
Andrew Smith - RTGS & ClearBank - London 13 February, 2023, 19:05Be the first to give this comment the thumbs up 0 likes

I think this is fab news. Another example of new banks showing that customer experiences realy makes a difference. 

It just shows what can be achieved in a relatively short period of time in the world of banking, with a clear USP, good leadership, great tech and a fab understanding of exactly what your proposition is... Well done the team, its great news for Oxbury and great news for FinTech!