Allica Bank to become UK’s latest fintech unicorn, following $155M funding round, according to report

**Allica Bank Achieves Unicorn Status Amid Significant Funding Boost** UK challenger Allica Bank is poised to join the prestigious ranks of fintech unicorns, having reportedly secured $155 million in its Series D funding round. This substantial investment is expected to propel the digital bank's valuation to $1.2 billion, marking a significant milestone in its growth trajectory. The funding round, which includes participation from Ventura Capital and existing investor TCV, underscores strong confidence in Allica's strategy and its potential for further expansion. The newly acquired capital is earmarked for ambitious expansion into Northern European markets, with Allica reportedly considering strategic acquisitions of local banks to facilitate this growth. Furthermore, the funds will bolster the development of Allica's artificial intelligence (AI) capabilities, aiming to enhance its proprietary platform. This focus on AI aligns with a broader trend in the fintech sector towards leveraging advanced technologies to refine customer offerings and operational efficiency. Allica Bank specifically targets established small and medium-sized enterprises (SMEs) with employee counts ranging from five to 250. Its core offerings include lending products such as commercial mortgages and equipment loans, alongside traditional current and savings accounts. By achieving unicorn status, Allica solidifies its position as a key player in the European fintech landscape, competing with other prominent digital banks that have also surpassed the billion-dollar valuation mark.