London fintech Kriya, led by Swiss-Indian entrepreneur, raises £50M for £1B global payments.

London-based fintech Kriya has secured a £50m ($65m) debt facility from Viola Credit, an Israeli fintech and alternative credit asset manager, allowing the company to power over £1bn of B2B payments over the next two years. The funding will enable Kriya to expand its PayNow and PayLater credit and payments offering for B2B retailers and marketplaces. It will also support the development of features such as pay in 30 or 60 days, or split payments over several months. Kriya plans to use the facility to assist exporters operating in 45 markets across multiple currencies. The company has processed billions in payment volumes in Europe and forged partnerships with several major institutions, including Barclays UK and the British Business Bank.