Allica Bank Raises $155M to Expand SMB Lending, Nears $1.2B Valuation

2026-02-26 - 08:43

London-based Allica Bank has raised US$155 million in a Series D funding round led by Ventura Capital, with participation from GLG, Sona AM, and existing investors TCV and Blue Owl. Most investors contributed common equity, with a portion coming from additional Tier 1 capital, valuing Allica at close to US$1.2 billion. Allica focuses on providing banking and lending services to established SMBs, typically those with 5 to 250 employees, using its proprietary technology platform. The new capital will support continued lending growth, further development of Allica’s technology stack, including the use of AI in lending, and its planned expansion beyond the UK for the first time. Over the past five years, Allica has grown its balance sheet to nearly £4 billion in SME loans and more than £5 billion in deposits. It currently serves over 30,000 established SMBs in the UK, around 5% of its target market, and is aiming to reach 10% penetration by 2028. Richard Davies, CEO of Allica, said: Richard Davies “This Series D investment reflects confidence in our strategy and performance as we continue to build a digital bank focused on established SMBs.” Featured image credit: Allica Bank