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Allica Bank Secures £ 110m of Series B Investment Led by Atalaya Capital Management – ​​UK Tech Investment News

Allica Bank Signs £ 110m Series B Financing Round

A funding round led by new investor Atalaya Capital Management, along with Allica’s existing major investor Warwick Capital Partners

New funding supports Allica’s ongoing scaling and acquisition of AIBSME lending portfolio

Arica BankFinTech SME Lead Challenger Bank, along with existing major investor Warwick Capital Partners, has announced a £ 110 million Series B funding round led by Atalaya Capital Management *.

Allica is dedicated to providing all types of credit and payment services to established and growing SMEs, combining proprietary technology with experienced local relationship managers to provide a superior customer experience. Is the only FinTech Challenger Bank in Japan.

Since first opening the door to SME lending in March 2020, banks have gained strong momentum in existing lending, offering clients over £ 500 million in commitment loan offers over the past 12 months. Received major industry awards. ..

In addition to this strong organic growth, Allica Announced the first major acquisition We have contracts to acquire about £ 600 million of affiliates with about 2,000 small business customers. Loans for SMEs From AIB Group (UK) Plc.

The new £ 110m funding round will provide capital to support AIB’s acquisition of SME lending portfolio and continued organic growth, as well as Allica’s strong proprietary technology and relationship management experience. Supports ongoing investment.

  • The acquisition of the AIB SME loan portfolio will significantly accelerate the growth of Allica’s direct lending to clients and relationship banking services.
  • 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.
  • Allica’s proposals and expanded direct lending offerings will leverage the bank’s own network of local relationship managers and an expanding suite of products, including the launch of a new Business Rewards account in early 2022.

To date, it has invested £ 233 million in Allica Bank, ranking Allica as one of the UK’s top 20 fintechs, according to Beauhurst.

Allica Bank, CEO, Richard Davies Said:

“Most digital and challenger banks focus on specialized lending markets or secondary settlement accounts, but this transaction is a transaction for Allica in the mainstream” high street “banking market for established and growing small businesses. It shows that you are in control. We are rapidly being selected as a small business lender due to the powerful combination of our unique technology and our experienced local relationship managers. “

“This £ 110m funding round, along with the acquisition from AIB, will support more of the UK’s established SMEs and growing companies as SMEs seek more coordinated support from banks. And allows for expansion. “

“We are focused on increasing lending to billions over the next few years with the aim of helping small businesses that are underserved and overlooked across the UK.”

Justin Burns, Managing Director of Atalaya Capital Management LP, said:

“We are excited to support Allica’s next stage of growth in our mission to support the success of SMEs.”

Ian Burgess, Managing Partner of Warwick Capital, said the majority shareholder of Arica Bank:

“We are pleased to continue with Allica’s support and the bank’s transformative acquisition of AIB’s SME portfolio. Allica has gained impressive momentum since its full launch last year. The acquisition will further accelerate the development of Allica’s award-winning proposals for underserved SMEs in the United Kingdom. “

* Some of Atalaya Capital Management’s investments, which exceed 10% of Allica’s equity base, require regulatory approval.

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Allica Bank Secures £ 110m of Series B Investment Led by Atalaya Capital Management – ​​UK Tech Investment News

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