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To give established businesses the banking they deserve.
SMEs are one of the central pillars of the British economy, yet many are being let down by the banks in terms of access to finance and personalised long-term support. Allica Bank is a challenger bank established in 2019 specially built to help SMEs thrive in their industry.
The company sets itself apart by reimagining relationship banking, which is something that has been taken away from SMEs in recent years. Allica Bank is not only bringing it back but also improving on it, arming relationship managers with slick technology. This has been successful with the bank offering over £71m in SME loans in its first year of activity. Originally offering savings accounts, commercial mortgages, an asset finance, Allica is now a full-service digital bank for UK SMEs and professional landlords.
The company is a fully licensed bank and it aims to continue to simplify the complex financial world by providing clients with easy-to-understand products and transparent fees. Due to the high levels of demand for its financial products, it has seen significant growth year on year (and is now the UK's fastest growing fintech). Boasting nearly doubling its profit in the last year alone, Allica is really making a name for itself.
Freddie
Company Specialist at Welcome to the Jungle
Dec 2022
$136.1m
SERIES C
Jun 2022
$34.1m
LATE VC
This company has top investors
Richard Davies
(CEO)Previously the COO for HSBC, Commercial Banking Director for TSB Bank, and CEO for Revolut.