NIBC Bank has contributed to a $100m funding round for lender Acorn OakNorth, which is now valued at $2.3bn.

UK-based lender and fintech developer Acorn OakNorth raised $100m on Thursday from a consortium that included financial services firm NIBC Bank.

EDBI, the investment arm of Singaporean statutory agency Economic Development Board, also contributed to the round, alongside the country’s sovereign wealth fund GIC, Clermont Group and Coltrane Asset Management.

OakNorth provides business loans to businesses and entrepreneurs, including property developers, restaurants and hotel chains. It has also developed Acorn, a machine learning platform to help financial services firms offer…