Allica Bank, a UK challenger bank focused on SME lending, has acquired embedded finance startup Kriya (formerly MarketInvoice/MarketFinance) in an all-share deal to expand into payment services for non-financial businesses. The acquisition—Allica’s third to date—will help the bank target £1 billion in working capital loans over the next three years, adding Kriya’s £4 billion in processed financing and clients like Halfords to its portfolio. Kriya will continue operating under its brand, led by CEO Anil Stocker, while aligning with Allica’s mission to reinvent SME finance and strengthen its embedded payments and international expansion strategy.

Allica Bank Snaps Up UK Embedded Finance Startup Kriya