Allica scoops £ 110 million in Series B

SME Challenger Bank Allica, along with existing key investor Warwick Capital Partners, has agreed to a £ 110m Series B funding round led by Atalaya Capital Management.

The new equity injection will take place a few days after startups have increased their profitability ambitions by agreeing to buy Allied Irish Bank’s £ 600 million UK small business loan book.

After the AIB transaction is fully completed in 2022, Allica Bank has a total of over £ 1 billion in loan books and expects to make a profit on a monthly basis.

According to Beauhurst, the bank, which combines its own technology with a network of regional relationship managers, has raised £ 233 million so far. It is ranked one of the UK’s Top 20 FinTech for funding raised.

Richard Davies, CEO of Allica Bank, said: From their bank. ”

Allica scoops £ 110 million in Series B

Source link Allica scoops £ 110 million in Series B

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