Allica Bank Reaches Unicorn Status with $155 Million Series D Round

Allica Bank has raised $155 million in a Series D funding round that values the UK digital business bank at approximately $1.2 billion, making it Europe's newest fintech unicorn.

The round was led by Ventura Capital, GLG, and Sona AM, with continued participation from existing investors TCV and Blue Owl. The majority of the funding was issued as ordinary shares, alongside a portion of additional Tier 1 equity capital — a regulatory loss-absorbing instrument required for banks.

Building for established SMBs

Founded in 2019 and headquartered in London, Allica Bank focuses on serving established businesses with 5 to 250 employees. The bank offers business banking and savings accounts alongside lending products including commercial mortgages, asset finance, and bridging finance.

Since launching its lending services in 2020, Allica has lent £4 billion and secured £5 billion in customer deposits across more than 30,000 SMB customers in the UK. The company topped Sifted's 250 ranking in 2024 as one of the fastest-growing European startups by compound annual growth rate.

International expansion planned

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."

The funding will support continued lending growth, deeper investment in Allica's proprietary technology stack — including AI-enhanced SMB lending — and the company's first expansion beyond the UK.