OakNorth Says M&A is Possible for Right Price and Right Fit

For the second time in the last few months OakNorth CEO Rishi Khosla said he was open to making an acquisition, though the deal had to be the right fit; Khosla explained while speaking at a Founders Forum according to AltFi, “at a time like this, there may be great opportunities to pick up talent or certain IP at moderately sensible numbers, but then it’s a question of capital allocation – is that the best use of the capital you have?”; capital scarcity is also something that Khosla believe many fintechs will be dealing with, as compared to the last few years which saw excess capital availability; recessions can also breed successful companies, just like the last recession helped to create the broader fintech market; “A lot of great businesses come out of a crisis and one of the reasons for that is because a crisis leads to capital scarcity which means you build in a totally different way,” said Khosla. Altfi

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