Kriya (formerly MarketFinance Limited and MarketInvoice Limited
) is a British business finance
lender
A creditor or lender is a party (e.g., person, organization, company, or government) that has a claim on the services of a second party. It is a person or institution to whom money is owed. The first party, in general, has provided some property ...
, specialising in
invoice finance,
business loan
A business loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. There are a number of different types of business loans, including bank loans, m ...
s and embedded finance. It is described as a
FinTech
Financial technology (abbreviated as fintech) refers to the application of innovative technologies to products and services in the financial industry. This broad term encompasses a wide array of technological advancements in financial services, ...
company.
Description
The company is based in London. To date, it has facilitated approximately £20 billion of B2B payments and advanced approximately £3 billion in credit to UK SMEs.
The company has a partnership with
Barclays
Barclays PLC (, occasionally ) is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services ...
bank.
History
Anil Stocker has served as
CEO
A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization.
CEOs find roles in variou ...
and Cofounder since the company began and Ilya Kondrashov as Cofounder and Chairman of the Risk Committee. Giles Andrews OBE was appointed the first chairman of the company in 2017.
In 2013 the
British Business Bank, began funding businesses through their platform.
On 12 November 2019, MarketInvoice was renamed MarketFinance as it launched a new business loans product.
In 2021 the company was accredited under the
Recovery Loan Scheme (RLS). It was also accreddited with under the Coronavirus Business Interruption Loan Scheme (CBILS), having lent £250m to companies across the UK.
In November 2022 the company was renamed to Kriya.
Financing
Kriya's history of obtaining finance is as follows:
Products & customers
In 2017 the company released a Confidential Invoice Discounting facility that would allow businesses to upload their entire invoice book to borrow against.
In 2018 Kriya launched a business loan product followed by an embedded finance product in 2021.
Investors fund businesses through Kriya's platform. These investors include institutional investors as well as regional funds and banks.
In 2018 Portugal's bank Banco BNI Europa and the German Varengold Bank announced that they would lend £90m and £45m respectively through Kriya's platform.
In 2018 Kriya announced a partnership with Barclays bank to provide invoice finance to Barclays' business customers.
Reception
Kriya was featured in the Sunday Times Tech Track 100 ‘Ones to Watch’ list in 2017 and 2018.
It won an Excellence Award for Most Innovative Invoice Financing Solutions in 2018.
References
{{Reflist
Financial services companies established in 2010
Financial services companies of the United Kingdom
Information technology companies of the United Kingdom
British companies established in 2010