Dutch merchant and entrepreneurial bank NIBC has announced its minority investment in the equity of fast growing fintech company ACORN OakNorth. Through the partnership, NIBC aims to consolidate its tech-based approach for the future.
CEO of NIBC Bank Paulus de Wilt is vocal about their enthusiasm for growth, stating that the company is always looking to develop relationships with fintechs for the purpose of adding value to its clients and optimising its business model. He says that the partnership will provide them with the opportunity to “enhance efficiency in credit management, thus enabling us to even better serve our mid-market clients at their decisive moments”.
Rishi Khosla, founder of ACORN OakNorth, says NIBC numbers among a global group of both large and small banks using its platform “to replicate OakNorth’s impact with SME lending in the UK in their own markets”. Khosla is excited regarding the partnership, considering NIBC’s ”focus on mid-market Dutch companies and their lending track record that spans over seven decades.”