Allica Bank, a UK-based digital bank focused on serving established small and medium-sized businesses (SMBs), has secured fresh capital of $155m.
The company has raised $155m in a Series D funding round led by Ventura Capital, with participation from GLG, Sona AM and existing backers TCV and Blue Owl. The majority of the funding has been structured as common equity, alongside a portion of new additional Tier 1 equity capital. The raise values the FinTech at close to $1.2bn.
Allica describes itself as a category-defining digital bank for established SMBs, typically those employing between 5 and 250 staff. It offers a full stack of banking services powered by its proprietary technology platform, aiming to address what it sees as a gap in the market for firms that have outgrown challenger offerings but remain underserved by traditional banks.
The new capital will be used to support continued growth in lending and to deepen investment in its in-house technology stack. This includes applying AI to transform lending opportunities for established SMBs, as well as supporting its planned international expansion beyond the UK.
Over the past five years, Allica’s balance sheet has grown rapidly, reaching nearly £4bn in SMB loans and more than £5bn in deposits. In 2023, the bank launched its Business Rewards Account, which it describes as award-winning. It now serves more than 30,000 established SMBs across the UK, representing around 5% of its target market, and has set a goal of reaching 10% 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 as recently as 2025.
Economic Secretary to the Treasury Lucy Rigby MP said, “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.”
Allica CEO Richard Davies said, “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.”
Copyright © 2026 FinTech Global
