UK Fintechs Pivot to Europe: Allica Bank Leads the Charge with Swedish Banking Licence

Allica Bank has formally applied for a banking licence in Sweden, kicking off the UK fintech sector's most aggressive push into Europe yet. The £1.2bn unicorn — named the UK's fastest-growing private company by The Times Hundred — submitted its application to the Swedish Financial Supervisory Authority (Finansinspektionen) this week, marking its first move beyond British borders. Over the past year, Allica's loanbook swelled by roughly £1.3bn in fresh originations, lifting its...