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Status: Funded

Apr 20th 2021 - Jul 27th 2021

B-North is a financial technology bank combining cloud-native technology with face-to-face relationship banking to disrupt the £150 billion UK Small and Medium Enterprise (SME) lending market. It argues that it delivers cash to SMEs faster than the competition by combining its lending origination platform with a locally delivered servicing and relationship model overseen by experienced bankers. B-North asserts that it is engaging in a positive dialogue with several potential investors with a committed investment now standing at £18.6 million since June 2020. The company has also raised a seed capital of over £6.8 million that includes a six-figure investment from the Greater Manchester Combined Authority to establish its core team and create both the lending and deposit-taking platforms. The company will use the investment to provide a cash runway to the end of Q2 2021 as the team finalises its Series A round and secures its banking license.

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Log in to view amount pledged

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    £19,500,000
    pre-money valuation

    2.50%
    equity available

    54
    investors

    £16,367
    pledge per investor

    11030672
    company number

    Liquidation
    company status

    25/10/2017
    incorporated 7 years

    Previous Funding rounds
    29 Mar 24 Growth Capital Ventures £2,149,256 / 430%
    29 Mar 24 Crowdcube £2,135,456 / 122% 52.00%
    28 Mar 24 Growth Capital Ventures £2,815,350 / 141% 52.00%
    26 Mar 24 Growth Capital Ventures £883,835 / 177%

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Funding progress

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Plerith works with high growth start-ups and scaling companies to plan for and deliver growth. The company asserts that it helps companies promote their business to potential funders, through its network of angel and venture capital investors depending on the stage and sector of the said business. Plerith is partnering with Newable and Bristol Private Equity Club to deliver the fund in the South West London (SWL) area and identify and invest in the most exciting high growth companies in the region. Plerith argues that its deep knowledge of fundraising, sales, strategy, finance and technology would help SWL businesses flourish. Plerith aims to provide investors access to the highest quality local companies in the SWL region.
days to go: Stretch investment: Withheld

Log in to view amount pledged

    Log in to view target

    £19,500,000
    pre-money valuation

    2.50%
    equity available

    54
    investors

    £16,367
    pledge per investor

    11030672
    company number

    Liquidation
    company status

    25/10/2017
    incorporated 7 years

    Previous Funding rounds
    29 Mar 24 Growth Capital Ventures £883,835 / 177%
    29 Mar 24 Growth Capital Ventures £2,149,256 / 430%
    29 Mar 24 Crowdcube £2,135,456 / 122% 52.00%
    28 Mar 24 Growth Capital Ventures £2,815,350 / 141% 52.00%
  • Internet Business Awards Category Award Winner 2015
  • Hertfordshire Business Awards Finalist 2014

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