In a significant move to strengthen the UK’s food and farming infrastructure, Oxbury Bank has secured an additional £10 million Tier 2 capital facility from the British Business Bank. This expansion brings the total facility to £35 million, building upon an initial £25 million agreement established in 2022. The funding, provided by the UK government’s economic development bank, is specifically earmarked to support small and medium-sized enterprises (SMEs) within the agricultural sector. As a specialized fintech lender, Oxbury intends to deploy this capital to help farmers invest in long-term assets, including land acquisition, automation technology, critical infrastructure, and advanced storage solutions.
The Oxbury story: A fintech built for the field
Launched in 2021, Oxbury Bank carved out a unique niche as the UK’s first and only fintech holding a full banking license dedicated exclusively to the agricultural industry. The bank’s leadership carries significant fintech pedigree: it is led by CEO James Farrar, the founding CEO of ClearBank, alongside co-founder Nick Evans. The bank’s business model is twofold:
- Specialized lending: tailored financing solutions designed for the unique cash-flow cycles of British farmers
- Community-driven savings: savings accounts available to the general public, marketed to anyone who wishes to support the sustainability and growth of British agriculture
Rapid market penetration: Reaching the 10% milestone
Since its inception, Oxbury has demonstrated that specialized, vertical-focused banking can compete effectively with legacy high street banks. According to Managing Director Nick Evans, the challenger bank is now executing one in five new farm loans across the United Kingdom. Oxbury is currently approaching a 10% market share of all new agricultural lending, a remarkable growth trajectory for a firm that has been operational for only a few years. This success is largely attributed to the bank’s ability to combine modern fintech speed with deep sector-specific knowledge factors that traditional lenders often struggle to balance.
The British Business Bank’s multi-layered support
The Tier 2 capital facility is only one component of the British Business Bank’s broader strategy to support Oxbury. The government-backed institution has also provided:
- ENABLE Guarantee Program: a £100 million guarantee deal designed to mitigate risk and allow Oxbury to originate an additional £45 million in SME lending
- Strategic growth alignment: ensuring that credit remains available to the UK’s essential food producers during periods of economic transition and technological shifts in farming
Vision and mission: Future-proofing British farming
Oxbury’s core mission is to modernize the financial backbone of the UK’s agricultural sector. By focusing on intelligent finance for farmers, the bank aims to facilitate a transition toward more automated and efficient food production systems. The bank’s vision is to remain the primary financial partner for the borderless, real-time, and intelligent agricultural economy of the future.
About Oxbury Bank
Founded in 2018 and launched in 2021, Oxbury Bank is the UK’s only specialized agricultural bank. Based in Chester, the firm provides a range of lending and savings products specifically designed for the needs of rural businesses. With a leadership team comprising veterans from both the banking and agricultural sectors, Oxbury uses its proprietary technology platform to deliver rapid, informed credit decisions to the UK farming community.
