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Kriya upgrades debt facility to power £1 billion in Payments over next 2 years

Kriya Team
January 31, 2024
3
min read
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Kriya raises new £50M funding facility with long-standing partner, Viola Credit, to accelerate enterprise growth.

Kriya's Anil Stocker and Marion Delille celebrate their £50 Million debt finance raise with Viola Credit
London, 31 January 2024

Kriya, the B2B payments fintech, today announces that it has secured a new £50 million debt facility from a long-standing debt partner, Viola Credit. This will allow the fintech to power over £1 billion of B2B Payments over the next 24 months.

With this facility, Kriya intends to double down on its PayNow and PayLater embedded credit and payments offering for B2B retailers and marketplaces. The new funding allows Kriya to power online checkouts and offline orders, offering features like Pay in 30 or 60 days, or split payments over several months. By smoothening the check-out process Kriya can help large merchants attract and retain business customers, powering larger sales baskets and helping end buyers (including sole traders) with their cash flow.

Beyond the ability to scale payments volumes and support more merchants in the UK, the facility will allow Kriya to support exporters who do business in 45 supported markets in multiple different currencies, including: GBP, USD and EUR.

Anil Stocker, CEO at Kriya, commented:

“We’re seeing big changes in how forward-looking merchants think about their B2B sales journeys from marketing to and onboarding new types of buyers through new channels, to smoothing the checkout process by offering different payment options and PayLater features that help their buyer’s cashflow.  

Kriya has delivered in the business payment and credit market for over 12 years, processing billions of payment volumes and striking partnerships with institutions such as Barclays UK and the British Business Bank. Kriya has the technology, product and operational expertise to take advantage of the digitisation of business transactions, while being a stable and scalable partner to mid-market and enterprise merchants.  

This new facility is an exciting validation of how we are now integrating and embedding financial tooling into larger merchants, making financial operations smooth so they can focus on their core business and drive sales growth.”

Ido Vigdor, General Partner at Viola Credit, commented:

“Over the last 12 years Kriya has successfully supported businesses by delivering products like B2B invoice finance, business loans and credit lines. This new evolution of offering embedded B2B Payments to merchants allows them to reach even more small businesses by removing fiction in the purchasing process. We’re happy to continue and deepen our relationship with Kriya with this additional financing capacity as they scale their B2B embedded financing product.”

About Kriya

Kriya is a leading fintech platform that keeps business flowing brilliantly by providing frictionless access to B2B payments and credit through seamless integrations and instant credit decisions.

Founded in 2011 and now operating in the UK, Ireland, Spain, the Netherlands, Poland and Belgium, Kriya has helped businesses collect over £27 billion in B2B payments, and advanced over £3.5 billion worth of credit to suppliers and buyers.

Kriya has a wide-reaching network of strategic distribution partners including Barclays Bank, and is backed by a prestigious array of equity investors including Northzone, Barclays Bank and Mouro Capital (owned by Santander Bank).

For more information please visit: https://www.kriya.co/

About Viola Credit

Viola Credit is a global credit investment manager focused on supporting the growth of the innovation economy. It's part of the Viola Group, Israel's largest technology investment house with over $5B in assets under management. Viola Credit provides credit solutions to global technology companies, including best-in-class FinTech, PropTech, and InsurTech companies that are disrupting traditional financial markets. Viola Credit's data-driven investment and risk management operations are key to providing unique solutions to its portfolio companies. For more information please visit: https://www.viola-group.com/fund/violacredit/

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