oaknorth

Sunil Chandra, CEO, OakNorth

UK-based OakNorth has announced the appointment of Sunil Chandra as the CEO of its new credit platform. Chandra is expected to fuel the business growth alongside co-founders Rishi Khosla and Joel Perlman.

Rishi Khosla, Co-founder of OakNorth, said, “The last decade has seen the growth of tremendous technology companies like Google, and Sunil was instrumental to that growth and indeed the broader industry. Joel and I are incredibly excited to have him join us, as we scale to meet the strong interest our platform has garnered with clients globally. His strong management experience and track record in scaling one of the world’s largest tech companies will help shape OakNorth’s future evolution and expansion with partner banks around the world.”

According to the supplier, Chandra has previously worked with Google as its Vice President since 2007 and was the Chief Operating Officer (Technology) for Barclay Capital. He has also worked with McKinsey & Co. as the director of administration with experience in scaling business operations. Chandra will be strategizing OakNorth’s business expansion in the U.S., Europe, and Asia and will assist the business in meeting its commercial and strategic goals.

Sunil Chandra said,  “It’s an incredible privilege to be joining the team at OakNorth. In a short period of time, the business has identified a key segment of the market that is underserved, proven that thesis with the profitable OakNorth Bank in the UK, and is now scaling the solution globally by licensing its platform to other lending institutions. SMEs account for roughly half of the GDP of the world. By supporting their growth, we are not only helping them but also their local communities who will benefit from new jobs and additional GDP. After more than 12 years at Google, I am excited about this next challenge and look forward to building the business into what will no doubt be one of the world’s premier tech companies born out of Europe.”

OakNorth’s credit platform assists banks and lending institutions across the world in catering to lower mid-market business segments, thereby propelling OakNorth Bank’s standing in the UK market.

Recently, OakNorth Bank announced a partnership with secure payments solution Shieldpay, in a bid to launch escrow accounts for borrowers.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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