Proven founder
Allica Bank
Allica Bank provides a full-stack digital banking platform for established UK SMEs with 5-250 employees, combining proprietary technology with dedicated relationship managers. The bank offers business current accounts with no monthly fees and cashback, alongside commercial mortgages, asset finance, and growth loans. Its AI-first technology stack supports fast lending decisions and automated back-office processes.
- Financial Technology
- Artificial Intelligence
- Enterprise Software
- Software Only
Updated 7 days ago
Funding
Raised to date
$454.7MRaised 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.
across 4 rounds
ACBOGSAVC+1$155M · Series D
Announced Feb 2026 · from article date
Disclosed cumulative: $454.7M
4/4
RoundDateAmountValuationInvestors
Founders
Product
Problem
Established small and medium-sized enterprises (SMEs) with 5-250 employees are often neglected by both mainstream high street banks, which charge high fees and offer impersonal service, and by fintechs that focus on consumers and micro-businesses. These businesses require tailored financial solutions, dedicated support, and accessible capital to manage their finances effectively and pursue growth opportunities.
Solution
Allica Bank provides a full-stack digital banking platform designed specifically for established SMEs, combining proprietary technology with relationship-based support. The bank offers a business current account with no monthly fees, competitive savings rates, and a dedicated relationship manager for personalized assistance. Allica also provides commercial mortgages, asset finance, growth finance, bridging finance, overdrafts, and invoice finance to support diverse financial needs. By focusing exclusively on the unique challenges of established businesses, Allica delivers fast decisions made by real people and 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 across the UK, including professional services firms and scale-up businesses, that are seeking personalized banking services and tailored financial solutions.
Features
- Business current account with no monthly fees, cashback rewards of up to 1.5% on eligible card spend, and interest in an attached instant access Savings Pot
- Dedicated relationship manager providing personalized support and direct access for every customer
- Proprietary full-stack technology platform built specifically for the needs of established businesses, with an AI-first ethos across front and back office processes
- Business savings accounts with fixed-term, notice, and easy-access options offering competitive AER rates
- Commercial mortgages for property acquisition, refinancing, and investment, with no arrangement fees on eligible mortgages for a limited period
- Asset finance solutions for acquiring essential tools and equipment
- Growth finance options tailored for established UK companies with at least £5 million in turnover
- Business overdraft and invoice finance for flexible working capital and cashflow support
- Online and mobile banking platform with team expense cards, multi-director access, and accounting software integrations
- FSCS deposit protection up to £120,000 per business