In October 2025, Kriya was acquired by Allica Bank. For our customers, this unlocks new possibilities – Kriya will continue doing what it does best: building digital credit products backed by strong customer service, now reinforced by the financial strength and infrastructure of a leading business bank. 

To understand why this matters, it’s worth looking closer at Allica itself – the UK’s fastest-growing fintech, and a bank built from the ground up for established businesses.

A Bank Purpose-Built for Growing Businesses

Allica Bank serves a specific market: established UK businesses with 5–250 employees. This group accounts for a third of UK employment and turnover yet has long been underserved by major banks and overlooked by fintechs chasing consumers or startups.

Allica’s mission is to give established businesses the banking they deserve. That means a current account that rewards business owners for using it, a relationship manager whose name and number they know, and powerful tools and technology that make their life easier, not harder.

Since launching in 2020, the bank has: 

• Lent over £3.5 billion to established UK businesses
• Collected £5 billion in deposits
• Achieved profitability within three years
• Built a national network of relationship managers across the UK, with headquarters in London, Milton Keynes, and Manchester
• Been recognised as Deloitte’s fastest-growing UK fintech (2023) and by The Sunday Times as the fastest-growing UK private company (2024)
• Achieved an ‘Excellent’ rating on Trustpilot from over 1,500 reviews

That growth, and a clear commitment to the established business segment, made Allica a natural fit for Kriya’s next phase.

What Allica Offers

Allica is a full-service business bank, offering both business banking and credit.

Business current accounts

Its flagship Business Rewards Account combines practical features with personal service:

• No monthly fees
• Integration with Xero and Sage
• Instant access Savings Pots earning competitive rates of interest
• Cashback on eligible card transactions
• FSCS protection
• a named relationship manager for every customer

Business savings

Fixed-term deposits and instant access Savings Pots offer some of the best rates on the market and flexibility for cash management.

Lending 

Allica has a well-developed lending business for a range of business needs, and has won 'Best Business Finance Provider' in 2022, 2023, 2024 and 2025 at the British Bank Awards.

• Commercial mortgages: £150k–£10m
• Asset finance: £25k–£2.5m
• Growth finance: £1m–£10m for expansion, acquisitions, or working capital
• Bridging finance: short-term capital on commercial or mixed-use property

It prioritises relationships to properly understand a business, rather just box-tick, and uses its powerful technology to move fast and provide quick decisions.

What Makes Allica Different

Three factors set Allica apart from high-street incumbents and new neobanks.

1. Bank licence with modern infrastructure

Allica has the balance-sheet strength of a bank – deposits, FSCS protection, and Bank of England access – without legacy IT. Its API-first architecture allows faster decisions and seamless integrations while maintaining credit quality.

2. Sharp segment focus

Allica doesn’t target consumers or microbusinesses, or large corporates. Its entire product suite, credit policy, and service is designed to meet the needs of established businesses.

3. Human service where it matters

Every customer has a named relationship manager that has real banking experience, supported by data and digital tools. It’s a hybrid model that avoids both faceless banking and fully self-service apps.

A Track Record of Execution (and Acquisitions)

Kriya’s acquisition follows a clear pattern. Allica has expanded through a mix of organic product development and selective M&A to serve more of an established business’s financial lifecycle.

These acquisitions include:

• 2021: Acquisition of AIB’s GB SME lending book
• 2024: Acquisition of Tuscan Capital, a specialist bridging finance lender
• 2025: Acquisition of Kriya, expanding into embedded B2B credit and payments

Allica aims to provide a full banking proposition to established businesses — from current account, payments and savings, to trade credit, property finance, and long-term funding. Allica’s goal: 10% penetration of the UK’s established business market by 2028.

Why It Matters for Kriya Customers

Kriya continues to operate under its own brand, but with Allica’s capital base and infrastructure behind it.

For customers and partners, that means:

• Higher funding capacity and greater stability
• Access to a wider financial toolkit — including current accounts, asset finance, and savings
• Joint product development across embedded credit, cards, and working capital tools

It also expands our reach beyond the UK. Many Kriya merchants trade across Europe, where access to B2B credit remains fragmented. Together with Allica, we’re building the infrastructure to fund local-currency payments and faster settlement for EU-based buyers and sellers.

This partnership strengthens Kriya’s ability to scale lending with bank-level capital and governance – while preserving the speed, flexibility, and product innovation our customers expect.

Final Word 

Allica is super focused on its target market. It’s building the UK’s only bank especially for established businesses. Its disciplined growth, modern infrastructure, and focus on real businesses make it a strong fit for Kriya – and a solid foundation for the next phase of SME finance.

Together, we’re combining fintech precision with bank-scale capability to serve the businesses that keep the UK economy moving.