£100m boost for British fintech

US-based technology investor TCV has led a £100m investment in UK challenger bank Allica. Allica was launched in 2020 to target SMEs and compete with the big four lenders of Lloyds, NatWest, HSBC and Barclays. It has lent £1.25bn so far and announced in September that it has become profitable on a monthly basis.

Read more: The Sunday Times

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