Allica Bank expands with brand new HQ

Allica Bank, the UK champion for established businesses and one of the fastest-growing fintechs, has moved to a new London office near Old Street, opened this month by local Islington South and Finsbury MP Dame Emily Thornberry MP.

The move follows a period of rapid growth for the bank, which now employs 765 people – a 50% increase since the end of 2023. Allica, which received its UK banking licence in 2019, has already lent well over £3 billion to British businesses and was named earlier this year as the second-fastest growing company in Europe by the Financial Times.

With offices also in Milton Keynes and Manchester, Allica says it had already far outgrown its previous London headquarters near Liverpool Street. Its new home at 15 Worship Street, right by Finsbury Square and between The City and Silicon Roundabout, gives Allica’s staff – who typically work on a hybrid model – more space to work from the office, including a range of modern facilities.

Split across two floors, the new space is designed to encourage collaboration. It features a host of breakout areas and double the amount of meeting rooms – each named after a different type of hat, in a nod to Allica’s distinctive orange bowler hat logo and the fact that business owners wear many different hats.

Allica provides digital business current accounts, lending and savings to established businesses – typically those with 5 to 250 employees. It is targeting 10% market penetration by the end of 2027, saying these businesses make up around a third of the UK economy but have been overlooked by both the big banks and fintechs.

Commenting on the move, Allica Bank’s CEO Richard Davies said: “Allica’s growth over the past few years has been fantastic, and our new London office is a big step forward in supporting that journey

“We still have ambitious plans to continue to grow, so it’s critical that we’ve created the right environment for our colleagues to come together, work together, and build the products and services our customers deserve.

“So, we’re not just growing fast – we’re growing the right way, with a relentless focus on our mission and culture.”

Speaking on her visit, Dame Emily Thornberry MP said: “It was great to visit the offices of Allica, and I am really pleased that they have chosen to headquarter in Islington South and Finsbury.

“It is often said that small and medium sized businesses are the engine of our economy, and it is important that we recognise the vital role that companies like Allica play in supporting SMEs.”