Kriya secures GBP 50 mln funding for B2B payments expansion

Wednesday 31 January 2024 10:02 CET | News

UK-based fintech Kriya has received a new GBP 50 million funding facility from Viola Group to enable it to power over GBP 1 billion of B2B payments by 2026.


With the new funding 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.

Kriya has received a new GBP 50 million funding facility to power over GBP 1 billion of B2B payments by 2026.

Global expansion and evolving B2B sales strategies

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.

Executives from Kriya said that they’re seeing big changes in how forward-looking merchants think about their B2B sales journeys from marketing to and on boarding 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 cash flow.

With over 12 years of experience in the business payment and credit market, Kriya has processed billions of payments and formed partnerships with institutions like Barclays UK and the British Business Bank. Leveraging its technology and operational expertise, Kriya is positioned to capitalise on the digitisation of business transactions, serving as a stable and scalable partner to mid-market and enterprise merchants. The recent funding facility validates Kriya's commitment to integrating financial tools into larger merchants, streamlining financial operations, and enabling a focus on core business activities for enhanced sales growth.

Commenting on this funding, officials from Viola Group said that since 2012, 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. They’re happy to be deepening their support at this interesting time, by backing a prominent player in B2B fintech.

What does Kriya do?

Kriya is a fintech platform that keeps business flowing 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 GBP 27 billion in B2B payments, and advanced over GBP 3.5 billion worth of credit to suppliers and buyers.

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Keywords: B2B payments, funding, fintech, BNPL, cash flow
Categories: Payments & Commerce
Companies: Kriya, Viola
Countries: World
This article is part of category

Payments & Commerce




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