Allica Bank Looks to Raise £100 Million Following £26 Million Funding

Newly minted SME focused bank, Allica Bank, has closed on a £26 million funding round led by Warwick Capital Partners – the majority shareholder in the firm. This announcement included the news that Allica intends on raising a further £100 million to pursue its vision of becoming a top business bank as well as pursuing the acquisition of non-bank lenders.

In a release, Allica said that COVID-19 has driven over £1 billion in loan inquiries at the bank – thus highlighting the demand for its services.

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