Allica Bank Achieves Unicorn Status with $155 Million Series D

Team S · 2026-02-27T13:22:03.000Z

London - Allica Bank, a UK-based digital business bank focused on serving small and medium-sized enterprises (SMEs), has raised $155 million in a Series D funding round, reaching a valuation of $1.2 billion and officially achieving unicorn status. The round was backed by Ventura Capital, GLG, and Sona Asset Management, alongside existing investors TCV and Blue Owl, which have supported the bank since 2022 and 2021 respectively. The financing consists primarily of common equity, along with a portion of additional Tier 1 equity capital. Founded in 2019, Allica Bank focuses on providing banking and lending services for established businesses with 5-250 employees. Its offerings include business banking accounts, commercial mortgages, asset finance, bridging finance, and savings products for both SMEs and individual customers. Since launching its lending operations in 2020, the bank reports that it has lent more than £4 billion and accumulated £5 billion in customer deposits. The company now serves over 30,000 small and medium-sized businesses, representing roughly 5% of the UK SME finance market, and aims to increase this share to 10% by 2028. According to the company, the new capital will be used to expand its lending operations, strengthen its proprietary technology platform, and invest further in AI-driven lending capabilities. The funding will also support Allica’s first expansion beyond the UK, marking a key step in its international growth strategy.

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Allica Bank Achieves Unicorn Status with $155 Million Series D | Newnex