Allica’s revenue grew over 500% in 2022
IN BRIEF:
- Following 534% growth in revenue in 2022, Allica made a £3m pre-tax profit in the second half of last year
- Allica still made a pre-tax loss of £1.6m for 2022 overall, but this is down markedly from £25m pre-tax loss in 2021
- They also raised a successful £100m Series C funding round from investors such as TCV, Warwick Capital and Atalaya Capital Management
What does this mean?
“2022 was a landmark year for Allica – becoming profitable, delivering amazing growth in deposits, lending and revenue, launching our flagship Business Rewards Account and completing our Series C funding round in an extremely challenging market,” said Richard Davies, CEO of Allica Bank. “Allica has entered 2023 with an excellent platform to continue to grow and expand its offer to SMEs – and in Q1 we’ve already seen profitability growing strongly, with very prudent capital and liquidity positions supporting our continued growth.”
