SMEs are the backbone of most economies around the world yet SME lending (facilities in the sub-$25m category) is the most neglected segment of the credit market. ACORN machine is a FinTech platform...
SMEs are the backbone of most economies around the world yet SME lending (facilities in the sub-$25m category) is the most neglected segment of the credit market. ACORN machine is a FinTech platform that helps automate the way banks penetrate this underserved and underestimated market. It does this by leveraging process excellence, machine learning and technology to fuel data-driven decision making across the loan lifecycle. The concept of ACORN machine was proven via OakNorth, a UK challenger bank co-founded by Rishi Khosla and Joel Perlman. In November 2017, the ACORN OakNorth group closed a £250m investment round with several high-profile investors - GIC, the Singaporean sovereign wealth fund, Toscafund, Coltrane, and the Clermont Group – which valued the business at c.$1.3bn. www.acornmachine.io