Japanese internet to telecommunication company SoftBank Group Corp's Vision Fund is planning to commit 339 million pounds ($440 million) in London-based banking firm OakNorth.

Vision Fund’s investment will value OakNorth at approximately $2.8 billion.

In September last year, OakNorth raised $100 million in a funding round, which valued the firm at $2.3 billion at the time.

OakNorth has secured a total of $601 million in over six funding rounds.