Allica Bank raises €131.3M Series D+ round
The funds are earmarked for expansion in Northern Europe, where the bank is considering an acquisition, and for developing its AI offering.
“We are building the category-defining digital bank for established small and medium businesses, and are excited to be taking our proprietary platform into new markets. This Series D investment is a major vote of confidence in Allica’s strategy and performance.”
Investors
Competitive Landscape
Direct startup competitors: OakNorth Bank (Unicorn, targets scale-up lending with proprietary data platform), Starling Bank (Series D+, broad SME and retail focus), Tide (Series C, targets micro-SMEs and sole traders), and Atom Bank (Late-stage, focuses on business loans and mortgages). Legacy incumbents: Barclays, HSBC, and NatWest (own 80%+ of UK business banking but criticized for slow service to mid-sized firms). Market context: Growing 'challenger bank' category specifically targeting the 'missing middle' (established SMBs with 5–250 employees) that require both digital efficiency and relationship management.
About Ventura Capital
Notable portfolio companies: Spotify (music streaming, public exit), Lyft (ride-sharing, public exit), Twitter (social media, public exit), Coursera (edtech, public exit), Xiaomi (electronics, public exit), Zilch (fintech, pre-IPO), Tekever (defense tech/drones), and Upgrade (fintech/credit cards).