Allica Bank provides digital banking services tailored for established small and medium-sized enterprises (SMEs), offering a current account with no monthly fees and a dedicated relationship manager. The bank addresses the inefficiencies and impersonal service of traditional banks by delivering competitive savings rates and flexible lending products, ensuring that SMEs receive personalized support and value.
Funding
$121.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Established small and medium-sized enterprises (SMEs) often face impersonal service, high fees, and limited access to capital from traditional banking institutions. These businesses require tailored financial solutions and dedicated support to manage their finances effectively and pursue growth opportunities.
Solution
Allica Bank provides a suite of digital banking services designed specifically for established SMEs, combining modern technology with relationship-based support. The bank offers a business current account with no monthly fees, competitive savings rates, and a dedicated relationship manager to provide personalized assistance. Allica Bank also provides commercial mortgages, asset finance, growth finance, and bridging finance to support SMEs with their diverse financial needs. By focusing on the unique challenges and opportunities of established businesses, Allica Bank aims to deliver a banking experience that is both efficient and supportive.
Target Audience
Allica Bank primarily serves established small and medium-sized enterprises (SMEs) with 5 to 250 employees that are seeking personalized banking services and tailored financial solutions.
Features
- Business current account with no monthly fees and up to 4.33% AER (variable) interest in an attached instant access Savings Pot
- Cashback rewards of up to 1.5% on eligible card spend
- Dedicated relationship manager providing personalized support and direct access
- Online and mobile banking platform for account management and team access
- Business savings accounts with fixed-term, notice, and easy-access options, offering competitive AER rates
- Commercial mortgages for property acquisition, refinancing, and investment
- Asset finance solutions for acquiring essential tools and equipment
- Growth finance options tailored for established UK companies with at least £5 million in turnover
- Bridging finance for short-term property financing needs