Coeval: 35 years of making UK roads safer
Coeval is a UK-wide specialist in LED road safety systems - the kind of infrastructure that quietly protects communities every day.
From variable message signs and speed warnings to overheight detection and tunnel lighting, they design, manufacture, install, and maintain the technology that keeps roads moving safely.
Headquartered in Glasgow, Coeval has spent over 35 years at the forefront of UK road safety - built on precision engineering, technical expertise, and a clear mission: safer roads.
Public sector and local authority contracts sit at the heart of their business. But like much of the infrastructure sector, those contracts come with one consistent challenge: long payment cycles.
The Challenge: Strong pipeline, delayed cash
Coeval’s work isn’t quick or cheap. Delivering road safety systems requires upfront investment - in materials, manufacturing, skilled teams, and ongoing maintenance.
But payment doesn’t come quickly. Public sector contracts often run on 60-90+ day terms, meaning Coeval could complete a project and still wait months to get paid - all while funding the next one.
That gap put real pressure on working capital. It limited how fast they could take on new contracts, invest in their team, and scale operations.
Coeval needed a partner who understood the realities of infrastructure work - and could unlock cash tied up in invoices, fast.
The Solution: Kriya Invoice Finance
Facility: £350,000
Coeval partnered with Kriya Invoice Finance to bridge the gap between invoice and payment.
With Kriya's facility in place, Coeval can draw down funds against invoices as soon as they are raised - accessing the working capital tied up in outstanding receivables without having to wait for their clients' payment cycles to run their course.
The solution is straightforward to use and adapts to the natural rhythm of Coeval's project pipeline. Kriya provides consistent, on-demand liquidity that keeps the business moving.
The Impact
Since working with Kriya, Coeval has been able to:
Eliminate cashflow bottlenecks caused by extended public sector payment terms, ensuring funds are available when the business needs them - not weeks later.
Take on new contracts with confidence, knowing that winning work won't create a liquidity crunch while the team delivers.
Invest in manufacturing, people, and processes without being constrained by what's sitting in outstanding invoices.
Maintain the operational reliability their clients expect, without the financial uncertainty that can disrupt growing infrastructure businesses.
Support sustainable growth, with a financial foundation that scales as their contract volumes increase.
Closing Note
Coeval's story will resonate with many businesses in the UK infrastructure and public-sector supply chain. Winning quality contracts shouldn't mean waiting months to access the money you've already earned.
With Kriya Invoice Finance, Coeval has the financial flexibility to keep building the systems that protect communities across the UK - without cashflow ever being the thing that slows them down.
We also honour the late Gary Higgins, former CEO of Coeval. Gary built something remarkable - a business that has kept UK roads safer for over three decades. His legacy lives on in every sign on every road.
Want to find out how Kriya Invoice Finance could work for your business?
Book a call with our team
"Working in the public sector means delivering complex, high-quality infrastructure projects while often waiting months for payment. Kriya has fundamentally changed that for us.
With immediate access to cash tied up in our invoices, we’ve removed the pressure on working capital and gained the confidence to take on new contracts, invest in our manufacturing capabilities, and continue delivering for our clients without compromise. It’s given us the financial flexibility to match our ambitions as a business."
“We expect our B2B revenues to double as a result of providing Kriya’s flexible payment terms to our trade and business buyers.”
Stuart Zissman, Head of Financial Services
Halfords is the UK’s leading provider of motoring and cycling services and products. Its customers shop across over 1,750 fixed and mobile locations including, Halfords stores and garages, as well as its website, halfords.com.
Today, around a quarter of Halfords turnover is business-to-business. They sell to organisations of all sizes including SME businesses, garages, and workshops, offering discounts on automotive parts and tools with their Trade Card, as well as directly to larger commercial and government customers that buy in bulk.
However, like many well-established enterprises, Halfords found its future growth was challenged by the legacy processes of its past. Find out how they’ve teamed up with Kriya to remove the friction from their B2B commerce.
Halford's challenges
“The exam question” says Halfords’ Head of Financial Services, Stuart Zissman, “was how do we make selling to business and trade buyers less labour-intensive?” Having already overseen a successful consumer finance proposition at Halfords, it was clear to Zissman that their B2B offering had potential to grow by introducing a simple and effective credit solution.
1. B2B buyers expect payments terms
“All successful B2B propositions have some sort of financial support” Zissman explains. Whether large or small, Halfords’ business buyers want to be invoiced on payment terms. This is especially beneficial for garages and workshops, which thrive on efficient working capital cycles, allowing them to source parts upfront and defer payment until they have received compensation for their services.
Halfords recognised the opportunity to enhance their offerings by providing scalable trade credit, which was previously untapped. As Zissman says, "offering payments completes the circle."
2. Manual, unscalable processes were holding back growth
Halfords' hands-on approach to B2B processes presented an opportunity for greater scalability and growth. Wholesale orders, managed via account managers, involved manual quotes and purchase orders, which added complexity.
“We’d like to say yes to every single customer that wants to order from us,” says Head of Trade Card, Chris Millan. However, processing these detailed orders for existing buyers took time, limiting the retailer's ability to proactively attract new business and expand their account base.
What Halfords sought was a way to make their B2B offering more accessible and achieve a better economy of scale.
“We work with sole traders, business customers and government entities. Kriya is the only supplier that could support all three.”
Chris Millan, Head of Trade Card
The search for a solution
Recognising the need for change, Halfords set out to find a way to modernise its B2B offering. With Kriya's 12-year track record and willingness to collaborate on a solution for their unique requirements struck a chord with Halfords.
A solution for all B2B buyers
Halfords has a diverse buyer base and needed B2B payment terms that could be offered to limited companies, government entities and sole traders.
Multichannel
With trade customers already purchasing online and in-store, Halfords needed a solution to offer payment terms holistically across their sales channels.
Risk expertise
With their focus on Motoring and Cycling, Halfords sought a partner with strong expertise in finance and payments, including robust credit and fraud detection capabilities, to help onboard their buyers.
“We are experts in motoring and cycling, and to ensure exceptional service for our customers, we decided to partner with Kriya, specialists in B2B payments and lending decisions.” Stuart Zissman, Head of Financial Services
The B2B vision
Halfords partnered with Kriya to transform their B2B offering. By integrating Kriya PayLater with their Trade Card, the retailer is combining trade discounts for B2B buyers with the ability to pay on account for online and in-store orders.
Adopting an eCommerce-first model has a number of advantages. Firstly, providing online buyers with highly-demanded payment terms expands the businesses they can sell to. Secondly, much of their offline business can be shifted to a self-serve, online checkout. Not only does this provide a smoother buyer experience, it also frees up the Halfords team to focus on the customers where their expertise has the most impact.
The near-infinite scalability of the Kriya solution means Halfords can not only improve their overall B2B customer proposition and experience, but they can also see financial benefits through the partnership too.
“Offering trade credit through payments makes it much slicker. It’s something buyers are familiar with from the consumer world.”Chris Millan, Head of Trade Card
Wholesale change
Halfords have kicked off their payments transformation with their wholesale offering.
Business buyers come to the Halfords wholesale team to place bulk orders and request custom details, such as branded bikes and accessories. Before Kriya, this fully offline sales channel required multiple teams and processes to transact each order. This process led to delays and hampered conversion, such as inventory becoming unavailable during the order, or customers purchasing elsewhere.
By streamlining the entire wholesale workflow into Kriya Merchant Portal, Halfords now have a single, automated flow for processing orders.
Wholesale buyers are first onboarded into Merchant Portal. This screens for credit and fraud risk, directly providing their sales team an instant spending limit decision for the buyer. Orders can then be placed on payment terms and invoices are automatically generated for the buyer. Additionally, Kriya assists with credit control by managing payment collections too.
“We needed a way forward that was less hands-on because the whole process was very, very manual.” Chris Millan, Head of Trade Card
How it works
The buyer places a wholesale order with Halfords
Halfords onboard the buyer into Kriya’s Merchant Portal
Payment terms selected and purchase complete. The buyer pays at the end of the following month.
Partnering for growth
Reflecting on the journey so far with Kriya, Zissman says “It’s that personal touch and relationship that makes the difference to the product we’re building together.” For Zissman, it's not simply outsourcing the expertise to a third party. “It’s more like we’re onboarding Kriya into Halfords and by extension they’ve become part of our team”.
There’s a busy roadmap ahead for Halfords and Kriya, with plans to bring the whole multichannel offering to market by the autumn of 2024.
We're very excited about this development,” says Millan. “Introducing payment terms to our Trade offering eliminates barriers that previously slowed us down and unlocks opportunities with a vast number of businesses we haven't historically engaged with.”
