We increased our investment into portfolio company Oxbury Bank, the leading agricultural bank and software provider that is enabling British farmers to manage their finances more efficiently and effectively, helping them to become more productive and sustainable.

Grosvenor’s investment, part of a series that included new and existing shareholders, follows Oxbury’s recent agreement of a £100m loan guarantee with the British Business Bank, providing more lending power to benefit agricultural businesses.

We are excited to continue our partnership with Oxbury Bank as it enters the next stage of its growth and works towards an ambitious set of 2024 lending targets, enabling British farmers to become more productive and sustainable. This year, Oxbury Bank has solidified its position as a leading agricultural banking and software provider, delivering exceptional growth and becoming established as the bank of choice for UK farmers.

In 2023, Oxbury launched instant access savings products and an asset finance lending service, alongside existing loan, working capital, and savings products, enabling UK farmers to invest in their productivity and the decarbonisation of their activities. 

Its New Gen lending programme is encouraging 26 new entrants into the industry by removing major barriers such as access to finance for everything from purchasing land to livestock, as well as providing expert farm business advice.

The business achieved profitability in 2023, just two years after its launch, and is on track to achieve £1bn of lending, within the next 18 months.