Kriya

Allica Bank has announced the acquisition of Kriya, an award-winning SME lending fintech previously known as MarketFinance. This strategic move aims to significantly strengthen Allica Bank's presence in the embedded payments market and advance its ambitious goal of providing £1 billion in SME working capital finance by 2028.

Summary of transaction details:

• Value: Not disclosed
• Sector: Fintech, SME Finance
• Advisor: Not mentioned
• Key Entities: Acquirer: Allica Bank; Target: Kriya
• Location: UK

Note: This acquisition is a critical step for Allica Bank to expand its SME finance offerings, combining its growing business lending portfolio with Kriya’s specialized expertise in invoice, loan, and embedded PayLater solutions. It underscores Allica’s commitment to addressing the funding challenges faced by UK SMEs and achieving a significant market share in the coming years.