Kriya vs iwoca: Which Lender Is Better for UK Business Finance?

This guide compares Kriya and iwoca for UK businesses weighing up short term funding, revolving credit, or invoice led finance. Both are well known alternative lenders, but they work differently, and the differences matter when cash flow is tight or you need flexibility rather than a fixed loan. We focus on product structures, how pricing and repayments typically work, and practical fit for different business scenarios, using only verifiable sources that are current and accessible online. Where exact rates and fees vary by applicant or are not clearly published, we explain the moving parts and keep examples illustrative.

Products and terms at a glance

Before comparing costs, it helps to pin down what each lender actually offers, and what the commitment looks like. If you are deciding between a revolving facility and invoice finance, you may also want to read Funding Agent’s overview of revolving credit loans and invoice financing for a broader context.

Kriya, overview

Kriya is a UK facing business finance brand operating at kriya.co. Kriya describes its proposition around funding linked to invoices and business payment flows, including invoice finance style products and credit solutions, as set out on its official site pages such as Solutions (product overview) and related product pages.

Because Kriya’s product set can be modular, you should expect eligibility and documentation to vary depending on whether you are applying for invoice finance, a credit facility, or another product within its platform. For example, Kriya discusses invoice led funding and how it works in its official materials, including pages under its Resources and product information sections.

Kriya, potential pros

• Can suit businesses with receivables that want funding linked to invoices rather than a classic fixed term loan, based on Kriya’s invoice and payment flow positioning on Kriya Solutions.
• May be useful where funding needs fluctuate with sales and invoicing, because invoice led facilities often scale with eligible invoices, as implied by Kriya’s invoice finance descriptions on its official pages such as Solutions.
• Can integrate into a broader cash flow toolkit if you use multiple Kriya products, where available, as described across Kriya’s official product overview at kriya.co.

Kriya, potential cons

• Not ideal if you specifically want a simple revolving facility that is not tied to invoices, Kriya’s positioning is more invoice and payment flow led on Kriya Solutions.
• Costs and advance rates are typically case specific in invoice finance, and Kriya does not publish a single standard rate card on its main overview pages, so total cost can be harder to compare without a quote, see Kriya’s product information.
• Invoice based funding often involves ongoing reporting or invoice eligibility rules, and the practical admin burden can vary by provider and product, Kriya notes product specific requirements in its official explanations, see Kriya Resources.

iwoca, overview

iwoca is a UK facing brand operating at iwoca.co.uk. iwoca’s core product in the UK is a flexible business funding facility that it describes as a line of credit, with drawdowns up to an approved limit and the ability to repay early, as explained on iwoca business loans and its line of credit pages.

iwoca’s offering generally aims to cover working capital needs such as bridging timing gaps, stocking up, or smoothing cash flow, which aligns with Funding Agent’s overview of working capital loans as a use case category.

iwoca, potential pros

• Revolving style facility with flexibility to draw down and repay, as described on iwoca line of credit.
• Early repayment can reduce interest cost compared with holding a balance for longer, depending on the specific agreement, iwoca references early repayment mechanics on its product pages.
• Online application and decisioning supported by bank data, iwoca explains its process and information requirements on iwoca business loans and related help pages.

iwoca, potential cons

• Not invoice specific, if your primary need is to unlock cash from invoices, a dedicated invoice finance structure may fit better, iwoca positions itself mainly as a credit facility on iwoca line of credit.
• Pricing varies by business and risk, and iwoca does not publish one fixed interest rate for all borrowers, see iwoca pricing (or equivalent pricing information on its official site).
• Some applicants may be asked for additional documents or checks beyond bank data, which can affect speed, iwoca notes information and checks can vary in its application guidance on iwoca business loans.

Costs and repayments in practice

Comparing costs across different product structures is tricky because invoice finance and revolving credit can charge in different ways. A revolving credit facility typically charges interest on the outstanding balance, sometimes with additional fees, while invoice finance may include discount charges (interest like) plus service fees, and the effective cost depends on invoice payment timing and the proportion advanced.

If you are comparing offers using different pricing models, it can help to understand how lenders present cost, Funding Agent’s explainer on factor rate vs APR is useful when you are comparing non standard structures with term loan style pricing.

Worked example 1, Kriya (illustrative)

Assumptions (illustrative only): A UK limited company issues a single invoice for £50,000 on 30 day payment terms to another UK business. The company wants to accelerate cash flow and uses an invoice funding product aligned with Kriya’s invoice led positioning on Kriya Solutions. We assume an advance of 80% of invoice value and that pricing includes (a) a financing charge that accrues for the time funds are outstanding and (b) a service fee, both of which are common in invoice finance but are not presented as fixed figures on Kriya’s main overview pages, so the exact numbers are unknown in 2026 without a quote.

How the cash flow could work: Kriya advances £40,000 shortly after invoice approval. When the customer pays the invoice, the advance is repaid and the remaining balance, less fees, is released back to the business. The effective cost depends heavily on whether the invoice pays on time, whether it pays late, and what fees apply for that product configuration, which is why Kriya’s quote based approach matters, see Kriya’s product information.

What to sanity check on the quote: Ask what percentage is advanced, which invoices qualify, whether there are minimum fees, and how charges change if invoices pay late. Also check what operational steps you must follow, such as invoice uploads or reporting requirements, which can be product specific, see Kriya Resources.

Worked example 2, iwoca (illustrative)

Assumptions (illustrative only): A UK business is approved for a revolving facility of £100,000 and draws £30,000 to purchase stock and cover short term cash needs. This matches iwoca’s description of drawing down on a credit limit on iwoca line of credit. We assume interest accrues only on the drawn amount and that repaying earlier reduces interest, consistent with iwoca’s early repayment messaging on its official product pages, see iwoca line of credit. We do not assume an exact interest rate because iwoca states pricing varies and depends on the borrower, see iwoca pricing.

How the cash flow could work: The business draws £30,000 on day 1. If the business repays the full £30,000 after 30 days, it pays one month of interest (plus any fees specified in its agreement). If it keeps £30,000 outstanding for 90 days, it pays three months of interest, all else equal. In practice, iwoca facilities can include scheduled repayments, minimum repayment amounts, or other conditions depending on product version and underwriting, so you should check your agreement carefully, and refer to iwoca’s official product and help information starting with iwoca business loans.

What to sanity check on the quote: Confirm whether there are drawdown fees, how interest is calculated, whether there are any minimum interest periods, and whether early repayment reduces the total cost in your specific contract, iwoca flags pricing and terms vary on its official pages such as pricing information.

Speed and service

Both lenders market themselves as technology led, but speed is a combination of (1) how quickly you can submit the right information and (2) whether the lender can complete its checks without needing extra documentation.

Kriya, speed considerations

Kriya’s process speed will depend on product type and how quickly invoice or customer information can be assessed. Invoice led products can require you to submit invoice details and sometimes customer information, because the underlying receivable is central to the risk decision, Kriya explains product mechanics in its official materials under Kriya Resources. Where Kriya uses integrations or portal based uploads, speed can be faster, but Kriya does not publish a universal funding time guarantee on its main overview pages, so treat timelines as quote and case dependent, see Kriya Solutions.

iwoca, speed considerations

iwoca states that businesses can apply online and that decisions can be fast, with the exact timeline dependent on checks and information provided, as outlined on iwoca business loans. iwoca also discusses using bank data to assess affordability and risk as part of its application flow on its official site, which can reduce manual paperwork in some cases, see iwoca line of credit.

For both lenders, expect speed to slow down if your accounts are complex, recent trading is volatile, you have limited trading history, or you are requesting higher amounts that trigger additional underwriting.

Who each lender suits

Rather than looking for a universal winner, it is usually better to match the lender to the cash flow problem you are solving.

Scenario fit, Kriya

• You invoice other businesses and want to unlock cash tied up in receivables. Kriya’s positioning focuses on invoice and payment flow linked funding, see Kriya Solutions, which can be a better conceptual fit than a general credit line if your working capital is trapped in debtor days.
• You want funding that scales with billing volume. Invoice led structures often rise and fall with eligible invoices, which aligns with Kriya’s invoice finance style narrative on its official product materials, see Kriya Resources.
• You can handle some operational process. If you are comfortable uploading invoices or syncing data and following eligibility rules, invoice products can work well, Kriya discusses product processes in its resources, see Resources.

Scenario fit, iwoca

• You want flexible borrowing for uneven cash flow. A revolving facility can suit businesses with recurring but variable costs, as described on iwoca line of credit.
• You want to borrow, repay, and borrow again without reapplying each time. This is the core practical advantage of a line of credit, iwoca describes drawdowns up to a limit on its official page.
• You want to reduce cost by repaying early when you can. iwoca references early repayment on its product pages, see iwoca line of credit, which can make it useful when you expect cash inflows soon.

How to apply

Application steps can change, so always confirm directly on the lender’s site before you start, especially around eligibility, documentation, and identity checks.

How to apply to Kriya

1. Start from Kriya’s official application or product entry points on kriya.co and choose the relevant product area, outlined on Kriya Solutions.
2. Provide business details and, where required, information connected to invoices or payment flows. Kriya describes product specific information needs in its official guides and resources, see Kriya Resources.
3. Complete any identity and fraud prevention checks requested, which can vary by product and risk assessment, and review the offer documentation carefully before accepting.
4. Once approved, follow the operational steps required for that product, for example submitting invoices for funding, and monitor the facility through Kriya’s platform where available, as described in its product materials on kriya.co.

How to apply to iwoca

1. Start from iwoca business loans or iwoca line of credit and begin the online application.
2. Provide business information and connect or share banking and financial data if requested, iwoca explains its approach on its official pages such as business loans.
3. Review the personalised offer, including interest calculation, repayment expectations, and any fees, iwoca notes pricing varies on iwoca pricing.
4. If accepted, draw down funds as needed up to the approved limit, then repay according to the agreed schedule, with early repayment behaviour referenced on iwoca line of credit.

Final verdict

It is usually less about which lender is better, and more about which structure matches how your business earns, invoices, and manages working capital.

Choose Kriya if

• You want funding linked to invoices and receivables, and your business is B2B with reliable invoicing, consistent with Kriya’s positioning on Kriya Solutions.
• You prefer a facility that can flex with billing volumes, subject to invoice eligibility, as described in Kriya’s invoice focused materials on Resources.
• You are comfortable with the operational steps that invoice led funding can require, and you want a quote based structure.

Choose iwoca if

• You want a revolving credit style facility where you can draw down and repay, as described on iwoca line of credit.
• You expect to repay early at times and want cost to reflect how long the balance is outstanding, subject to your specific contract, see iwoca’s early repayment messaging.
• You want a straightforward application flow for general working capital rather than invoice specific funding, see iwoca business loans.

If you want to compare multiple lenders side by side based on your business profile, you can start with Funding Agent and submit the short form to see what options are realistic for your needs.

Sources

• Kriya, official website
• Kriya, Solutions (product overview)
• Kriya, Resources
• iwoca, official UK website
• iwoca, business loans
• iwoca, line of credit
• iwoca, pricing
• Funding Agent, revolving credit loans
• Funding Agent, invoice financing
• Funding Agent, working capital loans
• Funding Agent, factor rate vs APR