FinTech Journey Of Success: London-based digital banking services provider, Allica Bank

Allica Bank Limited is a FinTech company that functions via its Digital Banking Platform (DBP) as well as a network of regional banking institutions, being able to offer branchless banking services to organizations and customers. 

Company Overview: 

• Allica Bank was founded in the year 2017.
• Headquartered in London, England, United Kingdom.
• Founder:
  • Jason Scott;
• Team:
  • Richard Davies, who is the company’s Chief Executive Officer (CEO);
  • James Heath, who is the company’s Chief Financial Officer;
  • Toby Mason, who is the company’s Chief Operating Officer;
  • Ravneet Shah, who is the company’s Chief Technical Officer;
  • Conrad Ford, who is the company’s Chief Product and Strategy Officer;
  • Neil Sculley, who is the company’s Chief Risk Officer;
• The number of employees working at the firm is over 250.
• The firm has had five fundraising rounds, where it managed to raise a sum total of around 221 Million Pound Sterling (GBP).

Company Expertise:

• Small and Medium Enterprises (SME) Banking,
• Business Mortgages,
• Business Loans,
• Business Banking,
• Asset Financing,
• Savings.

Fundraising Rounds and Investors:

• In the month of September, 2020, the company had its Series A round of funding, where it raised around 26 Million Pound Sterling (GBP). The investor of this round was:
  • London-based investment management firm, Warwick Capital Partners LLP;
• In the month of November, 2021, the company had its Series B round of funding, where it raised around 110 Million Pound Sterling (GBP). The investors of this round were:
  • London-based investment management firm, Warwick Capital Partners LLP;
  • New York-based investment management company, Atalaya Capital Management LP;
• In the month of November, 2021, the company raised Debt which amounted to around 7.5 Million Pound Sterling (GBP). The investors of this round were:
  • London-based investment management firm, Warwick Capital Partners LLP;
  • New York-based investment management company, Atalaya Capital Management LP;
• In the month of June, 2022, the company had its Late VC funding round, where it raised around 25 Million Pound Sterling (GBP). The investors of this round were:
  • London-based investment management firm, Warwick Capital Partners LLP;
  • New York-based investment management company, Atalaya Capital Management LP;
• In the month of June, 2022, the company raised Debt which amounted to around 30 Million Pound Sterling (GBP). The investor of this round was:
  • Sheffield-based investment management firm, British Business Investments;

Small and Medium-sized Enterprises (SMEs) are a major focus for Allica Bank, which is committed to helping, enabling, and assisting them. The company provides professional banking services for enterprises in the United Kingdom (UK) by integrating cutting-edge and potent technology with the community. 

Also, Read about PADDLE’s Fintech Journey of success London