Nivoda
“Being able to offer credit has helped our customers manage their working capital and buy more. As a result, customers appreciate our service even more, as evidenced by higher repeat purchase and retention levels for customers that make use of Nivoda credit.”

Nivoda were trying to manage credit internally, which led to low functionality, high interest rates and limited geographic coverage
Embedded payments and credit with Kriya Payments
Nivoda’s transforming the diamond industry with embedded credit
B2B diamond marketplace Nivoda is transforming the jewellery industry. And embedded credit with Kriya is helping to speed them along the way. Read on to learn how offering credit at checkout with Kriya helped accelerate their growth.
Nivoda – world’s fastest-growing online diamond marketplace
Nivoda has a simple mission – build a trusted global marketplace for the jewellery industry. Since their launch in 2017, they’ve built a team of over 200+ operators around the world with a wealth of experience in the industry. This helped them build an award-winning solution that enables jewellery businesses of any size, in any location, to buy and sell diamonds in the most profitable, efficient and hassle-free way.
The diamond industry is highly fragmented, which makes Nivoda’s marketplace solution so effective. Their customers include brick and mortar shops, manufacturers, private jewellers and wholesalers, who otherwise have low visibility on the breadth of diamonds available to purchase. Nivoda stands out from the competition with an astounding 1.6 million natural, lab-grown and melee diamonds available on their website.
Why the need for embedded credit?
Nivoda knew trade credit was key to conquering the jewellery industry. The majority of their buyers make sporadic purchases at very high values, which they then have to sell on to the end customer. This results in cash flow gaps and a lot of uncertainty.
In early 2022, they had a facility from one of their stakeholders to fund payment terms for their buyers who are a part of The Organisation for Economic Co-operation and Development (OECD). They provided 30 day payment terms to some of their customers via a trade credit insurance provider, but that option came with limited coverage and high interest for terms longer than 30 days. On the supplier side, they usually got paid after 2-3 weeks which proved challenging to some.
Nivoda was looking for a sustainable, long-term credit solution. They were deciding whether to raise facilities on their balance sheet or partner with an embedded finance partner such as Kriya. Building custom solutions however, is a challenging and resource-heavy undertaking and Nivoda decided that partnering with Kriya was the way to go.
Introducing embedded credit with Kriya Payments
Marilyn Monroe believes that diamonds are a girl's best friend, but we know that embedded finance is a diamond marketplace’s best friend. Nivoda chose Kriya’s B2B buy now pay later solution - Kriya Payments and has been a customer since June 2022. Kriya allowed for the flexibility and wide coverage Nivoda needed. We now support Nivoda customers in a variety of countries – UK, US, Ireland, France, Italy, Belgium, Germany, Spain and Netherlands.

"The partnership between Nivoda and Kriya is rooted in a shared obsession about how good the diamond purchasing experience can be. Regardless of how brick-and-mortar retailers or online stores currently operate - in a high-value industry, they are all looking for ways to boost cash flow whilst maximising sales - and for partners who can make this happen. Our driving ambition is to be there for them. Together we have worked hard on developing a unique payment solution that helps customers tap 30 or 60-day credit where and when they need it. To drive sales, build loyalty and make things easier." - David Sutton, Founder and CEO

Nivoda’s growth
Since the launch of credit Nivoda has seen a monthly average 14.6% increase in orders and quarterly 24% increase in customer numbers. Additionally their existing customers spend 11% more quarter on quarter. And they’re only set to grow – introducing Kriya Payments to their biggest market, Australia, in early 2023.

“Being able to offer credit has helped our customers manage their working capital. Nivoda enables zero inventory business models, combining that with credit allows small and mid-sized retailers to not have to invest in inventory at all and pay for procurement after their customers have paid them. Being able to buy on credit reduces the amount of payments and makes it easier to purchase from Nivoda. As a result, customers appreciate our service even more, as evidenced by higher repeat purchase and retention levels for customers that make use of Nivoda credit.” - Bas Lustenhouwer, CFO
Hear it from Nivoda
Andre Woons, CTO and Co-Founder, and James Morgan, CPO, were guests of honour at our Company Day 2022. So of course we had to snatch them up for a quick exclusive interview. Check out the video below to learn more about Nivoda and what the future has in store for them.
Interested in offering embedded finance?
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