Allica Bank Acquires Kriya to Boost UK SME Lending

UK challenger bank Allica Bank has acquired Kriya, the business finance platform, in a deal that strengthens Allica's SME lending capabilities. The acquisition combines Allica's banking licence and deposit base with Kriya's technology-driven business lending platform.

Kriya, formerly known as MarketFinance, has built a platform that provides invoice finance, business loans and payment solutions to UK small and medium-sized enterprises. The acquisition gives Allica access to Kriya's technology and customer relationships.

The deal is part of a broader trend of consolidation in the UK's challenger banking sector, where companies are acquiring complementary businesses to build more comprehensive financial services platforms. Allica has been growing rapidly as a specialist SME-focused bank.