We recently partnered with FinTech North for their webinar, Scaling Smart: Unlocking Growth for the North. The session brought together over 40 business leaders and finance professionals to explore how scale-ups can access the right funding, attract talent, and build strong partnerships to unlock growth.
We were proud to have Stewart Haworth, our Senior Director of Debt Finance, and Peter King, our Director of Business Banking, share their insights on the evolving scale-up landscape and how flexible lending can help ambitious businesses thrive.
The discussion also featured senior leaders from two of our past clients, Mamas & Papas and Total Fitness, who shared their perspectives on the challenges and opportunities of scaling in the North.
Scale-ups driving UK growth
Scale-ups are the backbone of the UK economy, driving innovation, employment, and productivity. Yet, despite their importance, many continue to face challenges in securing the right type of finance and support.
Hosted by Joe Roche, General Manager at FinTech North, the discussion also featured:
- Sarah Ashby, COO and interim CEO at Mamas & Papas
- Tom Rayner, CFO at Total Fitness
- Moderated by Foluso Laguda, Consultant at Whitecap Consulting
Opening the panel, Foluso asked why scale-ups matter. Sarah said:
“Scale-ups are incredibly important in the UK economy. We are hopeful that the economy will keep growing, and we are a huge part of that. From a Mamas & Papas point of view, getting the support we need to keep growing from the likes of our partners, like OakNorth, has been incredibly important.”
Tom added that regardless of size, scale-ups are critical to UK growth, with common challenges such as accessing funding and, crucially, accessing the right funding.
Both Stewart and Tom described scaling as “messy”, noting that while finance can be straightforward, execution relies heavily on strong management and strategic focus. Stewart also highlighted the positive effect of growth on morale and momentum within organisations.
The Northern perspective
The panel discussed the unique dynamics of scaling in the North. Sarah explained that while access to finance has not been a major issue for Mamas & Papas, the practicalities of securing funding can be more demanding. With most finance conversations still based in London, Northern businesses often spend more time and effort building lender relationships. She also spoke about the regional talent landscape, noting that while capability in the North is strong, the pool is smaller than in the capital, making attraction and retention more challenging.
Tom agreed, adding that local market nuances make proximity to core teams essential. For Total Fitness, this has meant anchoring growth in its heartland to ensure consistency and focus.
At OakNorth, we see these regional challenges as opportunities. With offices in Leeds and Manchester, and over £13 billion lent to businesses to date, we’re proud to help Northern entrepreneurs scale with confidence.
Funding that flexes
Both Mamas & Papas and Total Fitness shared how flexible financing structures helped them navigate growth and change.
Sarah reflected on Mamas & Papas’ journey as a cash-generative business, explaining that funding needs can arise from shareholder objectives rather than day-to-day operations. A recent raise with OakNorth provided a revolving credit facility that gave the business greater flexibility.
Tom shared how Total Fitness overcame major challenges during COVID, and how, post-pandemic, the speed and adaptability of OakNorth’s support allowed the business to align financing with its recovery and expansion plans.
As Stewart explained, “Deploying capital is straightforward, but it’s the relationship that follows which really matters.”
He outlined our three core products: term loan facilities, revolving credit facilities, and business banking accounts, and highlighted that 40% of our clients are repeat customers, reflecting our long-term commitment to supporting businesses beyond a single funding event.
Peter added that scale-ups often require different solutions from traditional SMEs. Unlike high-street banks, OakNorth provides flexible, tech-enabled lending designed to adapt to evolving business needs.
Building partnerships based on trust
Strong partnerships were a recurring theme throughout the discussion.
Tom described the value of having a bank that “looks forward,” noting that scale-ups live in the future and need funding partners that share that vision.
Sarah advised business leaders to work with lenders of a similar size and mindset. “The best relationships are built on no surprises,” Tom added, reinforcing the importance of transparency and open communication.
From our perspective, trust and dialogue underpin everything we do. As Stewart explained, we involve borrowers directly in credit committee discussions to ensure decisions are based on the full picture of their business. This not only builds confidence but creates alignment between lender and borrower from day one.
Technology, data, and human insight
Technology is a key enabler of smarter, faster decision-making, but it’s most powerful when paired with human understanding.
Peter explained how we use data and automation to make processes more efficient while keeping relationships at the centre of our approach. Stewart added that our model goes beyond data, creating a collaborative process where clients are actively engaged in lending discussions.
Sarah shared that Mamas & Papas’ growth strategy is increasingly data-driven, while Tom highlighted the value of working with a banking partner that recognises data’s role in shaping decisions. Both agreed that OakNorth’s combination of technology and human insight provides a genuine alternative to the bureaucracy of legacy banks.
Key takeaways for scale-ups
The panel closed with practical lessons for scaling businesses:
- Get your house in order: organise financials, data, and growth plans before approaching lenders.
- Be clear and confident: build a growth story that your leadership team can articulate.
- Communicate openly: strong partnerships thrive on transparency and regular dialogue.
- Think long term: focus on sustainability and resilience, not just short-term capital.
The session’s main takeaway was clear: unlocking growth requires more than capital – it takes strategy, execution, and trusted partnerships built on flexibility and shared ambition.
Watch the full discussion. You can watch Scaling Smart: Unlocking Growth for the North in full here.
If your business is ready to take the next step, explore how we can support your growth through our business loans and business banking solutions.
