Allica Bank: Secures additional £55m for future growth

Allica Bank: Secures additional £55m for future growth

• Allica Bank is dedicated to serving and supporting small and medium businesses and empowering them to succeed
• Announced it has secured £55m in additional funding as it continues to make significant gains in the SME banking market
• The latest funding builds on the successful £110 million Series B funding round in November 2021
• The additional funding will be used to fuel continued growth and comes shortly after the bank announced 
• Grew its SME lending to over £560 million more than 12 times higher compared to the end of 2020
• British Business Investments aims to increase the supply and diversity of finance for smaller businesses across the UK