Close Menu
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing & Mental Health
  • Marketing
  • HR & Recruitment
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
X (Twitter) LinkedIn YouTube
Trending
  • 5 ways employers can supercharge their workforce with apprenticeships
  • Take Control of Your Business Finances: “Know Your Numbers” Workshop
  • Planned or reactive maintenance: Which is best for your business?
  • Putting information security first is your first step to building digital trust.
  • Why the crackdown on late payments could be a turning point for SMEs
  • MPs bring Google training to regions outside London
  • Nearly Half of London Start-Ups Unfamiliar with Tax Obligations, New Analysis Reveals
  • AI isn’t just for the big players: How SMEs can effectively leverage AI
X (Twitter) LinkedIn YouTube
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing
  • Marketing
  • HR & Recruitment
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • Twitter
  • LinkedIn
  • YouTube
  • RSS
You are at:Home»Finance»Allica Bank secures additional £55m for future growth
Allica Bank secures additional £55m

Allica Bank secures additional £55m for future growth

0
Posted By sme-admin on June 17, 2022 Finance, News

Follows exceptional first two years of performance, with the bank rapidly becoming the fintech challenger bank of choice for established SME businesses 

Allica Bank – the fintech challenger bank that seeks to empower Britain’s small and medium sized businesses – has today announced it has secured £55m in additional funding as it continues to make significant gains in the SME banking market.

The latest funding builds on Allica’s successful £110 million Series B funding round in November 2021 – and increases the total funding raised by Allica Bank to £285 million, providing a strong basis on which the bank can continue to take on the mainstream ‘high street’ banking market for established, growing SMEs.

The additional funding will be used to fuel Allica’s continued growth and comes shortly after the bank announced exceptional performance in 2021 across all aspects of the business.

During 2021, Allica grew its SME lending to over £560 million – more than 12 times higher compared to end 2020 and is forecasting to complete £3 billion of lending to established SMEs in the next 3 years. Deposits have also grown to over £800 million by end 2021.

The bank has built strong financial momentum at the same time. Annual net operating income increased to £7.8 million in 2021, and April year to date net operating income has already exceeded this at £10.1 million, driving the bank towards monthly profitability in 2022.

British Business Investments Tier 2 capital facility

Allica has secured a £30 million Tier 2 capital facility from British Business Investments – a wholly-owned commercial subsidiary of the British Business Bank.

British Business Investments aims to increase the supply and diversity of finance for smaller businesses across the UK by boosting the lending capacity of challenger banks and non-bank lenders. Since it was established in 2014, British Business Investments has committed over £3 billion to providers of finance to UK smaller businesses.

Allica can draw on capital as required, providing additional fuel for the bank’s future growth. The investment could support up to an additional £250 million of lending to UK smaller businesses.Existing investors show renewed confidence in Allica Bank

Allica has also received £25 million in equity commitments from existing investors, Atalaya Capital Management and Warwick Capital Partners.

The two investors previously led Allica’s successful Series B funding round in November 2021.

Richard Davies, CEO, Allica Bank, said:

richard davies allica“The new facility from British Business Investments alongside further equity from our existing lead investors will enable Allica Bank to support and scale even more of Britain’s established SMEs and growth companies at a time when SMEs are looking for more tailored support from their bank.

“Allica is fast becoming the SME challenger bank of choice through combining our proprietary technology with experienced local relationship managers to provide great customer experience. Looking ahead, we are hugely excited about our plans to develop Allica’s customer proposition as we continue our mission to reimagine relationship banking for SMEs.”

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Take Control of Your Business Finances: “Know Your Numbers” Workshop

Why the crackdown on late payments could be a turning point for SMEs

MPs bring Google training to regions outside London

Comments are closed.

Follow SME Today on Linkedin and share all the topics you find interesting
ISO/IEC 27001 roadmap: A practical guide for UK SMEs
ISO/IEC 27001 roadmap: A practical guide for UK SMEs
Are you a Company Director?
Are you a Company Director - Verify your identity
Personal Pension offer
Events Calendar
    • Marketing
    September 9, 2025

    SEO 101 for SMBs: Reaching Customers with the Right Visuals

    August 29, 2025

    OneMetric forms strategic partnership with RevOps expert to drive UK growth

    • Finance
    September 17, 2025

    Take Control of Your Business Finances: “Know Your Numbers” Workshop

    September 16, 2025

    Why the crackdown on late payments could be a turning point for SMEs

    • People
    September 11, 2025

    New Chief Revenue Officer joins CBS to drive strategic growth

    August 14, 2025

    A Life Worth Saving – A Tribute to Dame Stephanie Shirley CH, 1933–2025

    • Health & Safety
    September 2, 2025

    1 in 3 employees anxious about lack of first aiders at work

    July 1, 2025

    Temperatures Soaring: Is Your Workplace Becoming Unsafe?

    • Events
    September 9, 2025

    Nominations for the 2026 Bold Woman Award by Veuve Clicquot open

    July 22, 2025

    South West Expo Delivers Outstanding Event at Swindon’s STEAM Museum

    • Community
    July 11, 2025

    Building community, one cause at a time

    June 23, 2025

    Celebrating One Year In Fairford Supporting The Community

    • Food & Drink
    August 22, 2025

    How to get stocked by major retailers as an SME

    July 18, 2025

    Warning to Small Businesses Over New Food Waste Regulations

    • Books
    September 3, 2025

    New book on conquering fear of public speaking

    August 7, 2025

    Learning to Leave a Legacy in Business

    The Newsletter

    Join our mailing list for the best SME stories, handpicked and delivered direct to your inbox every two weeks!

    Sign Up
    About

    SME Today is published by the same team who deliver The Great British Expos’. We have been organising various corporate events for the last 10 years, with a strong track record of producing well managed and attended business events across the UK.

    Join Our Mailing List

    Receive the latest news and updates from SMEToday.
    Read our Latest Newsletter:


    Sign Up
    X (Twitter) YouTube LinkedIn
    Categories
    • Books
    • Community & Charity
    • Education and Training
    • Environment
    • Events
    • Features
    • Finance
    • Food and Drink
    • Health & Safety
    • HR & Recruitment
    • In Profile
    • Legal
    • Marketing
    • News
    • People
    • Property & Development
    • Sponsored Content
    • Technology
    • Transport & Tourism
    • Wellbeing & Mental Health
    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Editorial Submission Guidelines
    • Privacy
    • Contact
    Copyright © 2025 SME Today.
    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Editorial Submission Guidelines
    • Privacy
    • Contact

    Type above and press Enter to search. Press Esc to cancel.