Kriya
Kriya was previously branded Marketfinance and before that Marketinvoice.
Contact Kriya
Contact details: REQUEST A CALL FROM KRIYA
Overview
Kriya is a peer-to-peer business finance platform, founded in 2011. They enable their customers to sell their sales invoices and receive funds, within 24 hours. The funds are provided by several sources: investors across the globe and the UK Government-owned British Business Bank. In August 2018 Barclays Bank took a minority stake in the company relating to the service to its clients. Customers are not locked into a contract but are free to use the platform over and over again, to raise further funds.
Business Loans
Towards the end of 2017 they launched a "business loan" product for companies looking to borrow up to £100K over up to a 12-month term - this has since been increased to up to £250K over a term of up to 3 years. They do not charge for early repayment and funds can be available in as little as 2 days.
Blogpost: Business loan rates from 1% per month
Selective Invoice Trading
Customers must have a minimum turnover of £100,000 and have been trading for at least 6 months. Customers can select which individual invoices they need funding against. This product allows customers to pick and choose the invoices which they receive funding against. You can receive up to £3 million of funding against each invoice.
There is now a fixed-term contract option for their selective invoice discounting solution.
Selective For Startups
Startups that can demonstrate £300,000+ turnover or projected turnover for the year, are also eligible for selective invoice trading.
Confidential Invoice Discounting
This product provides customers with an annual turnover in excess of £1 million, with a funding line against their outstanding sales invoices. This facility enables the customer to raise finance against all of their outstanding invoices. Customers are able to share relevant documents with Kriya automatically, each month, via their platform. This is a Confidential Invoice Discounting style facility, where the customer retains control of the relationships with their debtors who are unaware of the funding arrangement.
The platform is able to handle Euro, US Dollar (USD) and Sterling (GBP) invoicing.
Articles Contributed To FundingVoice Magazine
Articles contributed to our magazine by Kriya:
Other Resources
The blog post about the launch of the Kriya selective product.
