London markets ‘much less engaging’ than world rivals, says Oaknorth

Oaknorth co-founder Rishi Khosla says the UK is ‘less attractive’ than other markets

Tech unicorn Oaknorth says London’s public markets are looking ‘less attractive’ than their international peers as it mulls a potential float.

Rishi Khosla, co-founder of the digital business bank, has joined the criticism of the capital, saying: ‘The UK has not done the best in branding over the last two, three, four years… really since the Brexit referendum vote,’ he told City AM.

‘We just haven’t come out and created the reputation for the UK as the place where things are happening.’ The lender has been considering a float but said the UK was ‘less attractive’ than other markets.

He insisted no decision had been made. Oaknorth was valued at £2.2billion in 2019. Its profits reached £187million for 2023, up 23 per cent.