Allica Bank Acquires UK’s Kriya to Boost SME Lending
Hey FinTech Fanatic!
Allica Bank just made a bold move to better serve growing UK businesses. It acquired the embedded finance startup Kriya.
If you’re an SME, this matters. It means faster access to working capital, seamless payment solutions, and smarter financial tools, all under one roof.
Kriya, known for helping brands manage invoice finance and embedded payments, has processed over £4 billion since 2011. Now, it joins forces with Allica, a challenger bank that’s lent £3.5 billion to SMEs since 2020.
What changes now? Kriya keeps its name and leadership, with CEO Anil Stocker staying on. But behind the scenes, Allica is gearing up to lend £1 billion in working capital over the next three years and expand internationally.
"This is our third acquisition, but our first in the embedded payments space, and it aligns well with our future potential international expansion,” says Richard Davies, CEO of Allica Bank.
For small and mid-sized businesses with 10+ employees, this could mean fewer financial headaches and more room to grow.
Scroll down for more FinTech stories shaping that future 👇
Cheers,
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