Tyrllian Bank, a digital bank serving both the B2B and B2C segment, has raised USD 55 million in an equity round from A List Group Holdings and Tryllian Capital and USD 358 million in convertible debt from three private institutions. The round values the company at a little over USD 1.5 billion.

It aims to utilize the fresh funds to support its global expansion as well as become a fully licensed bank in the USA, UK, Singapore, and South Africa through its strategy of acquiring troubled licensed banks and restructuring them into subsidiaries in its target territories.

Formed in 2020, Tryllian Bank is currently in beta with over 1.5 million pre-customers including over 85,000 small business and freelance users and over 180,000 paid current accounts in the US, UK, EU, Singapore, and South Africa.

The company aims to launch its services in the US and the UK in 2025 as a fully licensed bank. It also hopes to be listed on the London, New York, and Nasdaq exchanges by 2030.