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Allica Bank
Fintech SME banking
- 201-500 employees
- Fintech
- B2B
- Banking
- Financial Services
- City of London, London, UK
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Company mission
To empower established SMEs to succeed.
Our take
SMEs are one of the central pillars of the British economy, yet many of these are being let down by the banks in terms of access to finance and personalised long-term support. Allica Bank is an early-stage 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. Allica Bank currently provides a limited number of finance products - more precisely savings accounts, commercial mortgages, and asset finance - and aims to expand its range of products in the future.
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, Allica Bank has recently raised funding which will be invested in developing its lending capacity.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- Health insurance
- Income Protection
- Discretionary annual bonus program
- Season ticket loans
- Generous pension contributions
- Life assurance
- Enhanced maternity, paternity and shared parental leave
- Competitive base salary
- Flexible working
- Equity
Company values
- Straightforward - Often, the best things are made simple. It's why we believe in being straightforward. That means cutting the jargon, using concise language that everyone can understand, and being upfront with one another – even when it's not the easiest thing to do.
- Collaboration - Whether it's with colleagues, customers, brokers or suppliers, we're better when we work together. Rather than having a hard sales culture, we celebrate how we support each other and what makes us different.
- Integrity - Building trust is about being honest and transparent with colleagues and customers. At Allica, we want everyone to be comfortable saying what they think, and to speak out when there's something we could be doing better.
- Delivery - Everyone at Allica is great at what they do. We hold high standards, so that our colleagues and customers know they can rely on us. And we're always looking for ways to improve.
Funding (last 2 of 4 rounds)
Dec 2022
$127.2m
SERIES C
Jun 2022
$31.8m
LATE VC
Total funding: $332.1m
This company has top investors
Leadership
Richard Davies
(CEO)Davies was previously the COO for HSBC, Commercial Banking Director for TSB Bank, and CEO for Revolut.
People progressing
Started out as a strategic associate currently the Head of Special Projects at Allica
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