Kriya, a prominent player in the FinTech sector, has made headlines by securing a substantial £50m debt facility.
This significant financial boost comes from Viola Credit, a long-standing debt partner of Kriya.
Kriya operates at the forefront of the FinTech industry, offering innovative B2B payment solutions. With a primary focus on streamlining the payment process, Kriya provides PayNow and PayLater options, catering specifically to B2B retailers and marketplaces. These services are designed to facilitate smoother online checkouts and offline orders, offering flexible payment terms such as 30 or 60 days, and even allowing for payments to be split over several months.
The essence of Kriya’s service is to enhance the check-out experience, thereby helping merchants to not only attract but also retain business customers, ultimately fostering larger sales volumes and aiding buyers in managing their cash flow more effectively.
The newly acquired funding will be instrumental for Kriya in doubling down on its existing services. The plan is to significantly scale the volume of payments processed and to expand the support provided to merchants, not just within the UK but also to exporters dealing in multiple currencies across 45 different markets. This expansion includes the facilitation of transactions in major currencies such as GBP, USD, and EUR, marking a substantial stride in Kriya’s growth and operational reach.
Kriya CEO Anil Stocker shared his vision, stating, “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.”
Ido Vigdor, General Partner at Viola Credit, also commented on the partnership, noting, “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.”
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