Company Overview and Background in the United Kingdom
MarketFinance Limited, legally registered as Company No. 08764340 and incorporated on 6th November 2013, has established itself as a significant player in the United Kingdom's digital lending landscape. Initially founded in 2011 as MarketInvoice, the company underwent a strategic rebranding to MarketFinance in 2019, before adopting its current identity, Kriya, in December 2022. Its registered office is located at 85 Borough High Street, London, SE1 1NH, firmly placing its roots within the heart of the UK's financial district.
Kriya's ownership structure is robust and diversified, reflecting its strong market position and investor confidence. It includes contributions from its founders, prominent venture capital firms such as Northzone, MCI Partners, and Viola Credit, alongside strategic investments from major financial institutions like Barclays and Santander Innoventures. Further funding comes from leading debt providers, including Deutsche Bank and Intesa Sanpaolo, underscoring its broad financial backing.
The core business model of Kriya revolves around empowering UK small and medium-sized enterprises (SMEs) by providing rapid and flexible access to working capital. Its product suite encompasses invoice finance, flexible credit lines, term business loans, and innovative embedded finance solutions. The company generates revenue primarily through factor fees, typically ranging from one to three percent per invoice, and interest accrued on drawdowns from its credit facilities. Kriya has already advanced over three billion pounds in credit and facilitated more than twenty billion pounds in business-to-business payments, demonstrating substantial growth and impact. The company reported twenty-five percent year-over-year revenue growth in 2024, highlighting its continued expansion. Key leadership includes Anil Stocker as CEO and Co-founder, Ilya Kondrashov as Co-founder and Chairman of the Risk Committee, and Giles Andrews OBE, who was appointed Chair in 2017.
Loan Products, Interest Rates, and Terms Offered by Kriya
Kriya provides a diverse portfolio of financial products tailored to meet the varied working capital needs of UK SMEs. These solutions are designed for flexibility and quick access to funds, crucial for business agility in today's dynamic economic environment.
Invoice Finance
Kriya's invoice finance solution allows businesses to unlock cash tied up in unpaid invoices. The company advances typically eighty to ninety percent of an invoice's value, providing funds within twenty-four hours. The remaining balance, minus applicable fees, is paid once the customer settles the invoice. Businesses can access up to three million pounds per client through this facility. The primary costs associated with invoice finance are factor fees, which range from one to three percent per invoice, plus interest on the drawn amount. Additionally, a monthly line fee of approximately 0.1 to 0.3 percent of the facility limit may apply. This product is secured against the business's receivables, meaning no additional collateral is generally required.
Flex Loan
The Flex Loan is an unsecured revolving credit facility offering businesses access to up to one hundred thousand pounds. This product is designed for short-term, flexible funding needs, allowing companies to draw and repay funds over terms ranging from three to twelve months. Commercial Annual Percentage Rates (APR) for Flex Loans typically fall between eight and fifteen percent per annum, though exact rates depend on the applicant's risk profile. A setup fee of around one percent of the loan amount is usually charged, but no additional collateral is required as it is an unsecured facility.
Business Loans (Recovery Loan Scheme)
Kriya has been an accredited lender for government-backed schemes, notably the Recovery Loan Scheme (RLS) and previously the Coronavirus Business Interruption Loan Scheme (CBILS). Under the RLS, businesses can access loans ranging from fifty thousand pounds up to two hundred and fifty thousand pounds, with some facilities extending to three hundred and fifty thousand pounds. These loans come with terms of four to six years, often including an initial six-month period where only interest payments are due. RLS business loans are government-backed, capping the APR at 14.99 percent per annum, with precise rates varying by individual provider and assessment. Notably, for loans under two hundred and fifty thousand pounds, no personal guarantee is required, making them more accessible for many SMEs. Kriya has lent up to two hundred and fifty million pounds through CBILS to date.
Embedded Finance
Launched in 2021, Kriya's embedded finance solution provides white-label credit options directly at the checkout point for e-commerce platforms. This innovative service integrates seamlessly into partners' systems, offering their business customers instant financing solutions, driven by Kriya's API-first model.
General Fees and Repayment Terms
Beyond the product-specific fees, Kriya aims for transparent pricing. While invoice facilities typically have no origination fees, Flex Loans include a setup fee. Processing fees are generally incorporated into the monthly line fee for invoice finance. Late payment charges can apply, typically up to four percent per annum over the base rate. Repayment schedules vary significantly by product: invoice finance is demand-driven upon customer payment, Flex Loans have fixed monthly repayments over three to twelve months, and RLS loans feature longer terms with structured repayments over four to six years.
Application Process, Technology, and Regulatory Compliance
Kriya leverages advanced technology to streamline its application, onboarding, and credit assessment processes, ensuring efficiency and speed for UK businesses. Its commitment to regulatory compliance provides a layer of trust and security for its clientele.
Application Process and Requirements
Businesses can apply for Kriya's financial products primarily through its intuitive web portal. For embedded finance solutions, API integration allows partners to offer credit directly within their platforms. The onboarding process is largely digital, requiring online identity verification, submission of company documents, and director identification. Kriya integrates with accounting software and bank statements to gather comprehensive financial data, which forms the basis of its credit assessment. Its proprietary underwriting algorithm analyses a wide array of data points, including invoice characteristics, bank cashflows, credit bureau information, and accounting software metrics, to provide swift and accurate lending decisions. Once approved, funds are typically disbursed via faster payments through UK bank transfers, or via API payouts for embedded finance partners.
Mobile App Features and User Experience
Kriya offers dedicated mobile applications for both iOS and Android platforms, enhancing accessibility and convenience for its SME customers. The iOS app boasts a strong rating of 4.2 out of 5, while the Android version holds a respectable 4.0 out of 5. These applications allow businesses to manage their facilities on the go, view balances, monitor repayments, and potentially initiate new drawdowns. The digital presence is further reinforced by its active website, kriya.co, which averages over two hundred thousand monthly visits, and its strong social media engagement with over fifteen thousand followers across LinkedIn and Twitter.
Regulatory Status and Licensing
Kriya operates under strict regulatory oversight, providing confidence to its customers. The company is fully regulated by the Financial Conduct Authority (FCA), adhering to rigorous standards for consumer protection and fair lending practices. Furthermore, Kriya has been accredited by the British Business Bank under both the Coronavirus Business Interruption Loan Scheme (CBILS) and the Recovery Loan Scheme (RLS), highlighting its adherence to government lending frameworks. To date, there have been no public FCA enforcement actions against Kriya, affirming its compliance track record. The company ensures transparent pricing disclosures and handles customer complaints in accordance with the FCA's Consumer Credit Sourcebook (CONC) rules, safeguarding borrower interests.
Market Position, Customer Experience, and Practical Advice for Borrowers
Kriya holds a significant position within the UK's competitive digital lending landscape for SMEs, differentiated by its technological prowess and strategic partnerships. Understanding its market standing and customer feedback is crucial for potential borrowers, alongside practical advice to navigate their lending options.
Market Position and Comparison with Competitors in the United Kingdom
Within the UK's fintech B2B lending sector, Kriya commands an estimated ten percent market share in invoice finance. Its main competitors include well-established names such as Iwoca, Funding Options, Fleximize, and Arbor. Kriya distinguishes itself through its strategic partnerships, notably with Barclays Bank, powering online SME loans, and its API-first model, which enables seamless integration for embedded finance solutions. This focus on technological integration and strategic alliances positions Kriya as a forward-thinking lender. The company continues to grow, demonstrating twenty-five percent year-over-year revenue growth in 2024 and plans to launch SME credit cards by 2026, indicating ambitious expansion within the financial services sector.
Customer Reviews and Experience
Customer feedback provides valuable insights into Kriya's operational effectiveness. On Trustpilot, the company maintains a rating of 3.8 out of 5 stars from over five hundred and seventy-five reviews. Positive feedback frequently praises the speed and efficiency of its funding processes. However, common criticisms often revolve around fees transparency, with some customers reporting higher-than-expected factor fees, particularly on longer invoice terms. Additionally, occasional delays in Know Your Customer (KYC) verification for businesses in non-standard industries have been noted. Kriya aims to address customer concerns through dedicated SME funding specialists, boasting an average response time of two hours via chat and twenty-four hours via email, demonstrating a commitment to customer support.
Practical Advice for Potential Borrowers
For UK businesses considering Kriya (MarketFinance) for their funding needs, the following practical advice is essential:
- Understand the Full Cost: While Kriya offers competitive rates, it is crucial to fully comprehend all associated costs. For invoice finance, meticulously review factor fees, potential interest charges, and any monthly line fees. For Flex Loans, understand the setup fee and the applicable commercial APR. Always request a clear breakdown of all charges before committing.
- Assess Eligibility and Requirements: Ensure your business meets Kriya's fundamental criteria. This includes being a UK-registered SME, possessing a sound financial standing, and, for invoice finance, having suitable, high-quality invoices from reputable debtors. Be prepared for online identity verification and integration with your accounting software.
- Compare Lending Options: Do not limit your search to a single provider. Compare Kriya's offerings with those of its competitors, such as Iwoca, Funding Options, and Fleximize. Pay close attention to APRs, total cost of borrowing, flexibility of repayment terms, and customer service reviews across different lenders.
- Scrutinise Customer Reviews: While Kriya generally receives positive feedback for its speed, take time to read through customer reviews on platforms like Trustpilot. Pay particular attention to common complaints regarding fee transparency and KYC processes, as these could impact your experience.
- Match Product to Need: Kriya offers distinct products for different needs. Use invoice finance for immediate cash flow against specific outstanding invoices. Opt for a Flex Loan for short-term, revolving credit requirements. Consider the RLS business loans for larger, longer-term capital investments or growth initiatives. Selecting the right product for your specific financial situation is paramount to effective borrowing.
