Allica Bank, a digital bank focused on small and medium-sized businesses, has raised $155 million in a Series D funding round to accelerate its growth in the UK, deepen investment in its technology platform, and begin international expansion. The round was backed by Ventura Capital, GLG, Sona AM, and existing investors TCV and Blue Owl. The majority of the funding consists of common equity, alongside a portion of new additional Tier 1 equity capital. The investment values Allica at close to $1.2 billion.
Allica positions itself as a category-defining digital bank for established SMBs, typically serving businesses with 5 to 250 employees. The company provides a full stack of banking services powered by proprietary technology.
The new capital will support continued lending growth and further development of Allica’s technology stack, including the application of AI to transform lending opportunities for established SMBs. The company also plans to expand beyond its UK home market for the first time.
Over the past five years, Allica’s balance sheet has grown to nearly £4 billion in SMB loans and more than £5 billion in deposits. In 2023, it launched its Business Rewards Account, which has received industry recognition.
Allica now serves more than 30,000 established SMBs across the UK, representing around 5% of its target market. The company is aiming to reach 10% market penetration among established SMBs by 2028.
The funding follows a series of accolades. Allica was named the fastest growing technology company in the UK by Deloitte in both 2023 and 2024, the fastest growing private company in the UK in 2024 by The Sunday Times, and the second fastest growing company of any kind in Europe by The Financial Times in 2025.
KEY QUOTES
“The UK is a fintech powerhouse and this Government is doubling down on measures that will enable the sector to grow. This government is helping to unlock investment into firms like Allica, supporting better finance for innovative British businesses, and showcasing UK financial services on the global stage.”
Lucy Rigby, Economic Secretary to the Treasury
“Allica is a world class business that is executing exceptionally well in a large, underserved market. Ventura is proud to be a major investor in Allica’s Series D and we are raring to support this exceptional team’s next stage of growth into international markets.”
Mo El Husseiny, Managing Partner of Ventura Capital
“Allica’s proprietary full-stack technology is world-class – and provides a truly differentiated edge in SMB banking.”
“Allica solves what customers have long been asking for – speed, reliability and trust – reflected in its outstanding performance in recent years. Looking ahead, we see Allica as a frontrunner in applying AI across front and back office processes in financial services, and we are excited to support the team’s ambition to fundamentally improve SMB banking across Europe.”
John Doran, General Partner at TCV; Michael Kalfayan, General Partner at TCV
“We’re building the category defining digital bank for established SMBs, and are excited to be taking our proprietary platform into new markets. This Series D investment is a major vote of confidence in Allica’s strategy and performance.”
Richard Davies, CEO of Allica Bank
