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SME neobank Bank North to wind down
source link: https://fintechranking.com/2022/10/03/sme-neobank-bank-north-to-wind-down/
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SME neobank Bank North to wind down
Bank North, an SME-focused UK neobank, is set to wind down after failing to raise a new funding round.
Bank North has been trying to raise a £50m series B funding round, according to documents seen by AltFi, from investors since May at a valuation of £106m. At the same time, worsening economic conditions amid high inflation have made venture funding volumes drop.
Read more: AltFi
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