Funding round
Allica Bank Series C
Allica Bank, which works in business banking and savings account services in London, raised $123M in a Series C round announced on 5 Dec 2022, led by Technology Crossover Ventures. 3 firms took part. It is Allica Bank's second venture round on record; the one before was a Series B in Nov 2021.
$123M
Amount raised
100,000,000 GBP converted
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Allica Bank did not disclose a valuation in this round. It came 13 months after Allica Bank's Series B. It is 29% of the $425M Allica Bank has raised in the venture rounds on record. Allica Bank raised again 38 months later: a Series D round of $155M in Feb 2026, at $1.20B post-money.
Allica Bank's funding rounds
Allica Bank has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
Technology Crossover Ventures led the round with 2 other firms.
Lead investor
- Technology Crossover Ventures backs 86 venture-backed companies new investor
Also in the round
- new investor
- Atalaya Capital Management new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations and working capital.
- Scaling operations
- Working capital
Comparable rounds
How it compares
6 Series C rounds in Banks & ATMs within a year either side disclosed an amount; the median was $60M, and this round was 2.1 times the median. The closest in time, other companies' Series C rounds in Banks & ATMs:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Banks & ATMs | 8 Feb 2023 | $40M | $1.10B | Mangrove Capital Partners and 14W Venture Capital |
| Banks & ATMs | 15 Aug 2022 | $17M | $565M | not named |
| Tyme Group Banks & ATMs | 23 May 2023 | $78M | not disclosed | Norrsken22 and Blue Earth Capital |
| Banks & ATMs | 1 Mar 2022 | $42M | not disclosed | not named |
| Banks & ATMs | 8 Feb 2022 | $114M | $884M | Greenoaks Capital |
| Banks & ATMs | 12 Jan 2022 | $120M | not disclosed | Altive and Ordway Selections |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Allica Bank raise in its Series C round?
Allica Bank raised $123M in its Series C round, announced in Dec 2022.
Who led Allica Bank's Series C round?
Technology Crossover Ventures led it, with Warwick Capital Partners and Atalaya Capital Management.
What was Allica Bank's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Banks & ATMs?
6 Series C rounds in Banks & ATMs within a year either side disclosed an amount; the median was $60M, and this round was 2.1 times the median.
Did Allica Bank raise again after this round?
Yes: a Series D round in Feb 2026 of $155M at $1.20B post-money.