Fintech firm Kriya has recently announced its latest funding achievement, securing a substantial €58 million funding facility from its long-standing debt and equity partner, Viola Group. This significant injection of capital will enable Kriya to process over £1 billion of B2B payments over the next 24 months, fueling its expansion plans and solidifying its position in the market.
Expansion Plans and Financial Impact
Kriya’s successful acquisition of the €58 million funding facility sets the stage for transformative growth. With the ability to facilitate over £1 billion in B2B payments, Kriya will have a significant impact on the payments landscape. This funding will play a crucial role in supporting the company’s ambitious business growth plans.
An integral part of Kriya’s growth strategy focuses on enhancing its PayNow and PayLater embedded credit and payment offering for B2B retailers and marketplaces. By emphasizing these solutions, Kriya aims to provide merchants with a comprehensive range of payment options tailored to their business needs. Features such as the ability to pay in 30 or 60 days and split payments over several months will empower both merchants and buyers.
Improved Checkout Process and Customer Benefits
Kriya’s new funding will fundamentally transform the checkout process for B2B transactions, offering merchants the tools to optimize their payment flow. By streamlining the checkout process, Kriya helps large merchants attract and retain business customers. The smoother payment experience enables larger baskets, resulting in increased sales. Moreover, this enhanced payment system directly benefits end buyers, including sole traders, by improving their cash flow and providing greater flexibility in managing their finances.
Support for Exporters and Expansion into International Markets
In addition to strengthening domestic payments within the UK, Kriya’s funding facility enables the company to support exporters who conduct business in 45 different markets and various currencies. This expansion into international markets provides a platform for increased payment volume and market penetration. By seamlessly integrating with different currencies and markets, Kriya empowers exporters to conduct cross-border transactions with ease and efficiency.
CEO’s Perspective on Market Changes and Kriya’s Success
Anil Stocker, CEO at Kriya, highlights the evolving nature of B2B sales journeys and the importance of adapting to new buyer channels. Stocker emphasizes that Kriya has a proven track record in the business payment and credit market, having processed billions of payment volumes and established partnerships with prestigious institutions such as Barclays UK and the British Business Bank. This new funding facility validates Kriya’s approach in integrating financial tools into larger merchants, enabling them to focus on their core business and drive sales growth.
Kriya’s latest funding achievement of €58 million from Viola Group signifies a notable validation of its embedded credit and payments offerings for B2B retailers and marketplaces. This financial expansion positions Kriya to power significant B2B payments and extend its services to support a broader range of merchants in the UK and international markets. With a proven track record in processing payments and delivering credit solutions, Kriya is well-positioned to help businesses achieve seamless financial operations, enabling them to concentrate on driving sales growth and success.
Established in 2011, Kriya has quickly made its mark in the financial technology sector. With operations spanning the UK, Ireland, Spain, the Netherlands, Poland, and Belgium, Kriya has supported businesses in collecting over £27 billion in B2B payments while advancing over £3.5 billion worth of credit to suppliers and buyers. Building on its success, the fintech firm continues to innovate, provide cutting-edge solutions, and push the boundaries of B2B payment technologies.