Kriya announces new £50m funding facility from Viola Group
UK fintech Kriya has secured a new £50 million funding facility with Israel’s Viola Group with the aim of powering over £1 billion-worth of B2B payments over the next 24 months.
Kriya secures £50m funding facility from Viola Group
Founded in 2011, London-based Kriya provides payment and credit solutions, including embedded finance, loans and invoice finance, to businesses in the UK, Ireland, Spain, the Netherlands, Poland and Belgium.
The fintech claims to have collected over £27 billion in B2B payments and advanced over £3.5 billion worth of credit to suppliers and buyers since its inception.
It says it will leverage its new funding facility to “double down” on its PayNow and PayLater embedded credit and payment products as part of a wider effort to “power online checkouts and offline orders”.
In addition to this, the facility will also enable Kriya to enhance its support of export businesses operating in multiple markets with solutions that are compatible with 45 different currency types, including GBP, USD and EUR.
Speaking on the new funding and intended development of its solutions, Anil Stocker, CEO at Kriya, claims the fintech has the “technology, product and operational expertise to take advantage of the digitisation of business transactions”, and views the new facility as a “validation” of its efforts to streamline financial operations for merchants.
