Kriya, a B2B payments fintech based in London, has successfully secured a new £50 million debt facility from its long-standing debt partner, Viola Credit.

This significant funding injection positions Kriya to facilitate over £1 billion in B2B payments over the next 24 months.

Kriya plans to utilise this substantial facility to strengthen its PayNow and PayLater embedded credit and payments solutions tailored for B2B retailers and marketplaces. The funding empowers Kriya to enhance both online checkouts and offline order processing, offering flexible features such as Pay in 30 or 60 days, and the option to split payments over several months.

This strategic move aims to streamline the checkout process, enabling large merchants to attract and retain business customers, drive larger sales baskets, and support end buyers, including sole traders, with improved cash flow management.

Expanding Payment Capabilities

In addition to scaling payment volumes and extending support to more UK-based merchants, Kriya’s funding will play a pivotal role in assisting exporters. The fintech operates in 45 markets, facilitating transactions in various currencies, including GBP, USD, and EUR. This expanded capability positions Kriya as a valuable partner for businesses engaged in cross-border trade.

Anil Stocker, CEO at Kriya, highlighted the changing landscape of B2B sales journeys and emphasised Kriya’s commitment to delivering innovative financial solutions. With over 12 years of experience and billions in payment volumes processed, Kriya has forged partnerships with leading institutions like Barclays UK and the British Business Bank. The CEO also noted that the new funding is a testament to Kriya’s ability to integrate financial tools seamlessly into larger merchants’ operations, streamlining financial processes and allowing businesses to focus on core activities and drive sales growth.

Ido Vigdor, General Partner at Viola Credit, also expressed satisfaction with Kriya’s evolution over the last 12 years. He said, “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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