Oakam Receives Senior Debt Line from Royal Bank of Scotland

oakamOakam ltd, a London, UK-based fintech lender, received a senior debt line from the Royal Bank of Scotland.

The company intends to use the facility to accelerate growth in the UK.

Founded by Frederic Nze, Oakam provides micro-lending services to people who find it difficult to borrow from banks. It uses an omni-channel combination of face-to-face and tech delivery to increase reach and reduce the cost of credit to people at the “bottom of the pyramid”. To date, it has lent a total of £250m in over 350k loans with 1/3 of the customer base interacting through the recently released mobile app. 

The company is backed by Cabot Square Capital LLP, a financial services private equity firm.





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