Funding round
Allica Bank Series B
Allica Bank, which works in business banking and savings account services in London, raised $147M in a Series B round announced on 24 Nov 2021, led by Atalaya Capital Management and Warwick Capital Partners. 2 firms took part. It is Allica Bank's first venture round on record.
$147M
Amount raised
110,000,000 GBP converted
Not disclosed
Post-money valuation
2
Investors
2 leads
Valuation
What this round says about the price
Allica Bank did not disclose a valuation in this round. It is Allica Bank's first venture round on record, 2 years after it was founded in 2019. It is 35% of the $425M Allica Bank has raised in the venture rounds on record. Allica Bank raised again 13 months later: a Series C round of $123M in Dec 2022. Its next priced round, a Series D in Feb 2026, valued it at $1.20B.
Allica Bank's funding rounds
Allica Bank has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
Atalaya Capital Management and Warwick Capital Partners led the round.
Lead investors
- Atalaya Capital Management new investor
- new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations, acquisitions and working capital.
- Product development
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
21 Series B rounds in Banks & ATMs within a year either side disclosed an amount; the median was $55M, and this round was 2.7 times the median. The closest in time, other companies' Series B rounds in Banks & ATMs:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Banks & ATMs | 1 Nov 2021 | $50M | $315M | B Capital |
| Tyme Group Banks & ATMs | 7 Dec 2021 | $180M | not disclosed | not named |
| Banks & ATMs | 7 Dec 2021 | $180M | not disclosed | not named |
| Banks & ATMs | 6 Dec 2021 | $58M | not disclosed | Valar Ventures |
| Banks & ATMs | 11 Jan 2022 | $90M | $700M | Stripes |
| Banks & ATMs | 6 Jan 2022 | $90M | $800M | Sun Hung Kai & Co. |
| Banks & ATMs | 9 Feb 2022 | $131M | not disclosed | Mizuho Bank |
| Banks & ATMs | 1 Aug 2021 | $55M | $500M | Valar Ventures and Target Global |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Allica Bank raise in its Series B round?
Allica Bank raised $147M in its Series B round, announced in Nov 2021.
Who led Allica Bank's Series B round?
Atalaya Capital Management and Warwick Capital Partners led it.
What was Allica Bank's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Banks & ATMs?
21 Series B rounds in Banks & ATMs within a year either side disclosed an amount; the median was $55M, and this round was 2.7 times the median.
Did Allica Bank raise again after this round?
Yes: a Series C round in Dec 2022 of $123M.