Overview
Allica Bank, a digital bank for small and medium-sized enterprises (SMEs) in the UK, has raised £115 million in Series D funding, achieving a valuation of nearly $1.2 billion. The round was led by Ventura Capital, GLG, Sona AM, and existing investors TCV and Blue Owl. The new capital will enhance SME lending growth, expand technology, and leverage AI for smarter lending opportunities, while also allowing Allica to enter new markets. Currently, Allica serves over 30,000 SMEs and aims for 10% market penetration by 2028.
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Investors: Ventura Capital, GLG, Sona AM, TCV, Blue Owl
Allica Bank, a digital bank for small and medium-sized enterprises (SMEs) in the UK, has raised £115 million in Series D funding, achieving a valuation of nearly $1.2 billion. The round was led by Ventura Capital, GLG, Sona AM, and existing investors TCV and Blue Owl. The new capital will enhance SME lending growth, expand technology, and leverage AI for smarter lending opportunities, while also allowing Allica to enter new markets. Currently, Allica serves over 30,000 SMEs and aims for 10% market penetration by 2028.