OakNorth Bank – the UK bank for entrepreneurs by entrepreneurs – today announces the further strengthening of its Board of Directors with the appointment of Timo Boldt as a Non-Executive Director.
Timo Boldt is the Founder and CEO of Gousto, which pioneered the recipe box offering in the UK when it was established in April 2012. Since then, it has grown into a profitable Unicorn business, delivering 90m meals with £315 million in revenue last year. The company leverages a unique blend of technology and food with more than half of its two million weekly meal orders being placed via its proprietary artificial intelligence-powered recommendations. Last year the company achieved B Corp™ status, meeting the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose – something of huge importance to and championed by Timo.
Prior to founding Gousto, Timo was a VP at Petrus Advisers, a special situations hedge fund, after working in investment banking at Rothschild. He is also a Non-Executive Director at Flagstone, a digital scale-up, and Compare the Market, a UK price comparison website. Timo has an Executive MBA from the University of Cambridge and gives guest lectures in digital marketing, data science and technology-related topics.
Commenting on the appointment, Rishi Khosla, CEO and co-founder of OakNorth Bank, said:
“Timo brings deep experience in data, technology, automation, and marketing – all of which will prove invaluable as we continue to expand our offering and digital capabilities. Crucially, he also brings further entrepreneurial experience to our board – having started and scaled an incredibly successful business in Gousto. This means he has his finger on the pulse in terms of what entrepreneurs are looking for and how to create a delightful experience for them.”
Timo Boldt, Non-Executive Director at OakNorth Bank, added: “Having started and scaled my own business, I’m acutely aware of the challenges business owners face when it comes to their banking and finances. This is one of the primary reasons that OakNorth’s mission and unique approach really resonates with me. I’ve been following the Bank’s incredible growth story since its launch in 2015, and am excited to now be a part of it. I look forward to working with the team and supporting entrepreneurs in their growth ambitions.”
ENDS
Notes to editors
About OakNorth Bank plc
Launched in September 2015 and founded by entrepreneurs, OakNorth Bank is a neobank which provides the UK’s fastest-growing and most ambitious businesses with the fast, flexible debt finance (business loans of £250k up to tens of millions) they need to scale, while also helping savers make their money go further.
To date, the bank has lent several billion pounds to businesses across the UK and across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of tens of thousands of new jobs, as well as tens of thousands of new homes – the majority of which are affordable and social housing. Through delighting customers, its growth has primarily been driven by word of mouth with 80% of its new lending coming from referrals.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Contact
Valentina Kristensen – Director, Growth & Communications – [email protected] / [email protected] / 0757 234 9009