PriyaPatelTLDR
Kriya FinTech has secured £50m in debt financing from Viola Credit to expand its B2B payment solutions. The UK-based company aims to improve the checkout experience for B2B merchants and streamline online and offline transactions. Kriya plans to use the funds to increase its payments volume and expand its assistance to merchants, including helping exporters in multiple currencies across 45 markets. The funding is expected to enable Kriya to achieve significant growth and operational reach.
Key points:
- Kriya FinTech has secured a debt facility of £50m ($71m) from Viola Credit to expand its B2B payment offerings.
- Kriya offers B2B payment solutions specifically designed for online checkouts and offline orders, aiming to improve the checkout experience for merchants and streamline transactions.
- The debt financing will help Kriya double down on its existing services and scale the volume of payments processed.
- The funding will also support Kriya’s expansion to new markets, including the facilitation of transactions in major currencies such as GBP, USD, and EUR.
Kriya FinTech, a leading FinTech company, has secured a £50m debt facility from Viola Credit, providing the company with substantial funding for its B2B payment solutions. Kriya aims to improve the B2B payment process by offering innovative options such as PayNow and PayLater, catering specifically to B2B retailers and marketplaces. These services enable smoother online checkouts and offline orders, with flexible payment terms and the ability to split payments over several months. The company’s goal is to enhance the checkout experience for merchants, ultimately fostering larger sales volumes and helping buyers manage their cash flow more effectively.
The newly acquired debt financing will play a crucial role in Kriya’s expansion, as the company plans to significantly increase the volume of payments processed and expand the support provided to merchants. The expansion will not only cover the UK market but also reach exporters dealing in multiple currencies across 45 different markets. This expansion includes facilitating transactions in major currencies such as GBP, USD, and EUR, marking a significant step forward for Kriya in terms of growth and operational reach.
Anil Stocker, CEO of Kriya, shared his vision for the company’s future growth and the importance of B2B payment solutions. He stated, “We’re seeing big changes in how forward-looking merchants think about their B2B sales journeys… to smoothing the checkout process by offering different payment options and PayLater features that help their buyer’s cash flow.” With the additional debt financing, Kriya aims to support merchants in these areas and further revolutionise the B2B payment landscape.
Ido Vigdor, General Partner at Viola Credit, expressed his support for Kriya and the potential of embedded B2B Payments. He stated, “We’re happy to continue and deepen our relationship with Kriya with this additional financing capacity as they scale their B2B embedded financing product.” The partnership between Kriya and Viola Credit has proven successful in the past, with Kriya’s previous offerings such as B2B invoice finance, business loans, and credit lines. This new collaboration paves the way for Kriya’s expansion into embedded B2B Payments, allowing them to assist even more small businesses and simplify the purchasing process for merchants.
