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05 JULY 2022
Grosvenor Food & AgTech has furthered its funding of Oxbury Bank – the UK’s first and only agtech bank – enabling more British farming and supply chain businesses to enhance their productivity and sustainability.
Oxbury has raised a further £20 million in equity from new and existing investors, including Grosvenor Food & AgTech, bringing the total capital raised from its latest funding round to £68 million.
Anthony James, Managing Partner, Grosvenor Food & AgTech, said: “Grosvenor’s investment strengthens our support in Oxbury, helping to grow its operation, raise capital and increase its lending power, which will enable more British farming and supply chain businesses to enhance their productivity and sustainability.
“Oxbury has made an immediate impact to UK agriculture, substantiated by its impressive lending figures and ambitious future targets, demonstrating that it is uniquely placed to support British farming through its innovative banking products and fintech solutions.”
Since first opening its doors to lending in February 2021, Oxbury has had a rapid impact on the funding available across Britain’s farming and food supply chain. Its strong performance since launch means it is forecast to breakeven by the end of 2022.
The bank has a target to lend £1 billion to farming and food businesses by 2024, at least 50% of which will be to fund the transition to climate-positive production.
Oxbury’s unique and proprietary agtech banking platform – Oxbury Earth – is also powering a new range of unique data solutions for Oxbury’s farming and supply chain customers enabling them to gain powerful new data insights to improve sustainability, provenance and productivity performance across their businesses.
James Farrar, Oxbury’s co-founder and CEO said: “Oxbury offers a completely different vision for how a finance company can support the UK’s critical farming and food ecosystem with both short- and long-term financing to meet the pressures of today and tomorrow.
“With the power of our new agtech banking platform, Oxbury Earth, combined with our decades of finance and agricultural experience, we’ve identified a once-in-a-generation opportunity to transform the way farming, food businesses and the rural economy are supported by their bank to support ongoing food security and the natural environment.”
About Grosvenor Food & AgTech
Grosvenor Food & AgTech (previously known as Wheatsheaf Group) is an international investor in food and agriculture businesses.
Our focus is to rethink and re-shape how food is grown, produced, distributed and consumed. We partner with like-minded people to understand the complex interconnectedness of our agricultural ecosystem to manage its effects and enhance human health, our environment and enable producers to thrive.
We are one of the largest and longest established investment teams in the sector. Adopting a far-sighted perspective, we aim to develop innovative business models and harness the insights and power of technology to identify, develop and scale up lasting solutions.
We are a values-led organisation which represents the Grosvenor family. Our work in food and agtech, alongside Grosvenor’s other activities in international urban property, rural estate management and support for philanthropic initiatives, shares a common purpose - to deliver lasting commercial, social and environmental benefit - addressing today’s needs while taking responsibility for those of future generations.
Managing Partner, Grosvenor Food & AgTech
+44 1244 670981