A specialist bank from Cheshire that serves the farming community has been recognised as one of the United Kingdom's most rapidly expanding technology companies.
Agricultural Fintech Secures Top Tier Ranking
Oxbury Bank, which launched in 2021 to support the rural economy, has been placed third in the software category of the prestigious Sunday Times 100 Tech list. The ranking is based on a remarkable annual sales growth rate of 399% over the past three years. The bank's latest annual revenue, derived from interest income, stands at an impressive £112.5 million.
Since its inception, Oxbury has provided more than £1.5 billion in loans to the agricultural sector and has attracted £2.5 billion in customer savings. Beyond traditional banking, it has developed its proprietary Earth technology platform. This initiative provides funding that rewards farmers for enhancing soil health and reducing carbon emissions.
Founder Vision and Strategic Growth
The bank's co-founders, James Farrar (59) and Nick Evans (62), have successfully secured over £162 million in investment from backers specialising in agriculture and technology. In the company's 2024 accounts, CEO James Farrar emphasised the bank's deep sector connection.
"Oxbury continues to grow by being part of the sector that's part of us," Farrar stated. "Our focus on lending to the agricultural market, the rural economy and the food supply chain is more than just the foundation of our continued growth, it is a focus that has also attracted some of the best and most progressive customers in our sector."
He added that the business pipeline remains robust, positioning Oxbury as a mainstream lender in UK agriculture. The workforce has grown to 218 employees, and the number of borrowing accounts has doubled once again.
North West Well-Represented in National Tech Showcase
The Sunday Times 100 Tech list exclusively features independent, privately-owned firms headquartered in the UK. The overall list was topped by London fintech Abound, which achieved a 490% annual sales growth rate. In the software category, Abound was first, followed by AI procurement platform Vertice in second, with Oxbury taking third.
Four other North West companies earned places on the list:
- Blackpool's banking fintech Tandem (84.7% growth)
- Lancaster supply chain sensor business System Loco (64% growth)
- Warrington fibre infrastructure specialist ITS (54.7% growth)
- Manchester drug molecule visualisation firm C4X Discovery (45.7% growth)
The research, conducted with data specialist Beauhurst, revealed that the 100 listed firms collectively generated £3.7 billion in sales, a £3 billion increase over three years. They now employ 23,100 people, having created 11,600 new jobs in that period.
Jon Yeomans, Business Editor of The Sunday Times, commented: "Despite a challenging economic backdrop, Britain’s tech sector continues to produce businesses of extraordinary ambition and momentum. This year’s Sunday Times 100 Tech highlights founders who are scaling at remarkable speed, creating thousands of jobs and exporting British innovation to the world."
