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

Kriya, operated in the UK by Kriya Finance Ltd, and Sonovate, operated in the UK by Sonovate Limited, are both specialist business finance providers that focus on receivables based funding rather than traditional term loans, and both position themselves as fintech alternatives to bank overdrafts and invoice discounting, but they target slightly different niches according to Kriya's main site and Sonovate's UK website. This comparison looks at what each lender offers, how funding structures and costs work in practice, and how speed and eligibility differ for UK businesses. Because both providers regularly update products and underwriting criteria, all product details should be read as indicative and cross checked against their current documentation. Where precise rates, fees or limits are not published as of 2026, this guide uses clearly labelled illustrative examples and notes that pricing varies. The aim is to help you decide which lender is the better operational fit for your cash flow needs rather than to promote one brand over the other.

1. Products and terms at a glance

Both lenders focus on funding linked to invoices, but the structure and target customers differ.

Kriya

Brand and entity: Kriya is the trading name used by Kriya Finance Ltd and related group entities in the UK, and the brand previously traded as MarketFinance, based on disclosures on the Kriya website and explanations in its legal and terms pages. The firm positions itself as a B2B finance platform providing working capital solutions to SMEs, not a general consumer lender according to its product overview.

Core products (names and structures as described by the lender, with availability and limits potentially subject to change):

• Embedded business payments and buyer finance: Kriya offers tools that allow B2B suppliers to extend payment terms to customers while Kriya provides funding in the background, as outlined in its buyers solutions pages. These offers include pay now, pay later and pay on milestones arrangements, effectively combining trade credit and receivables funding.
• Invoice-backed facilities: Kriya markets revolving funding lines that are drawn down against unpaid customer invoices, sometimes framed as invoice finance or invoice-backed working capital, based on descriptions in its suppliers solutions content. The facility is typically flexible rather than a fixed-term instalment loan, with funding limits linked to the value and quality of the receivables book.
• Business loans and Growth Guarantee Scheme participation: Historically Kriya has also offered term business loans and has participated in government guarantee schemes, although current availability and parameters may vary and the site emphasises receivables-based products as of 2025 to 2026 according to its blog and updates.

Typical structure: Instead of a classic unsecured business loan with fixed monthly repayments, Kriya's main SME products advance a percentage of invoice value and are repaid when buyers pay their invoices, as described on its invoice finance related pages. The facility limit usually scales with the ledger, and contracts may include notice periods and concentration limits on single debtors.

Sonovate

Brand and entity: Sonovate describes itself as "the leading provider of finance and technology services to recruitment businesses and consultancies" and states that Sonovate Limited is the primary UK legal entity, according to its about page and the company information in its terms and conditions.

Core products:

• Invoice finance for recruitment and consultancies: Sonovate funds contractor and permanent placement invoices, paying a large proportion of the invoice value upfront and collecting from the end client later, as explained on its how it works section. This is positioned as a recruitment-specific form of invoice finance rather than generic factoring.
• Embedded funding and platform tools: Sonovate provides APIs and platform integrations so that recruitment and consultancy businesses can manage timesheets, invoicing and funding in one place while Sonovate supplies the capital in the background, according to its platform overview.

Typical structure: Sonovate advances funds against approved timesheets or invoices, then is repaid when the end client settles; this mirrors traditional asset finance in the sense that the underlying asset is the receivable, although legally it is more akin to factoring. Unlike generalist lenders, Sonovate usually ties the facility to recruitment and consultancy flows, based on details in its funding product pages.

Summary of product scope:

• Kriya: broader B2B invoice-backed funding and embedded checkout-style payment options for suppliers.
• Sonovate: sector-specific invoice funding for recruitment and consultancy firms with embedded payroll and timesheet tools.

2. Costs and repayments in practice

Neither lender publishes a full tariff of interest margins, fees or minimum and maximum facility sizes for all products as of early 2026, and available pricing appears to vary by customer profile, sector, and facility size according to both Kriya's legal documentation and Sonovate's terms. Any figures below are therefore clearly illustrative and not quotes.

How pricing is typically structured

Kriya

• Charges are usually expressed as a margin or fee over the amount advanced plus any fixed service fees, based on descriptions in Kriya's product explanations rather than as a published APR.
• Costs may include an arrangement or account fee, a discount fee charged on outstanding balances, and specific transaction fees for particular services such as buyer finance or extended payment terms, according to examples in the firm's blog content.
• Because funding is often revolving and linked to invoices, the effective cost will depend on how quickly customers pay and how much of the facility you use at any time.

Sonovate

• Sonovate usually quotes a fee structure based on the value of invoices funded and the time taken for end clients to pay, consistent with explanations in its FAQ and help content where available.
• Pricing can vary by sector, volume and risk; for example recruitment agencies with blue-chip end clients and strong payment histories may achieve lower funding costs than early-stage agencies with concentrated debtors.
• Some contracts may have minimum usage or volume expectations, as suggested in partner documentation on Sonovate's partner information pages, which can affect the total annual cost even where the headline fee per invoice appears low.

Illustrative comparison table

The following table summarises key cost and repayment dimensions. All rate examples are hypothetical and for illustration only; actual pricing varies.

Worked examples (illustrative only)

These scenarios use simplified assumptions to demonstrate how costs and cash flow might behave. They are not based on published rate cards and real pricing varies.

Example 1: B2B supplier using Kriya-style invoice funding

Assumptions (illustrative):

• An SME sells £100,000 of goods on 60 day terms to a mix of business customers.
• The lender advances 80 percent of invoice value upfront, so £80,000.
• Illustrative fee equivalent to 3 percent of invoice value for the 60 day period, plus a £300 monthly service charge.
• All buyers pay on time and there are no disputes or bad debts.

Cash flows:

• Day 1: Supplier issues £100,000 of invoices and receives £80,000 from the lender.
• Day 60: End customers pay £100,000 to the lender.
• The lender deducts the 3 percent fee (£3,000) and the £300 service charge, returning £96,700 minus the £80,000 already advanced, so the supplier receives a remaining £16,700.

Interpretation:

• Total cost for 60 days on £80,000 of funding is £3,300, which would equate to an effective rate that depends on how you annualise and compare to other options.
• If customers pay in 45 days instead, the effective cost per annum would usually fall; if they pay in 90 days, costs would rise.

Example 2: Recruitment agency using a Sonovate-style facility

Assumptions (illustrative):

• A recruitment agency invoices £200,000 per month for contractors on 30 day terms.
• The lender advances 90 percent of invoice value on approval of timesheets or invoices, so £180,000 each month.
• Illustrative fee equivalent to 2.5 percent of invoice value for the 30 day period.
• Clients pay on time and there are no disputes.

Cash flows for one monthly cycle:

• Day 1: Agency submits approved invoices; lender advances £180,000.
• Day 30: Clients pay £200,000 to the lender.
• The lender takes a 2.5 percent fee (£5,000) and returns the remaining £195,000; the agency receives the £15,000 balance after the advance is repaid.

Interpretation:

• Total monthly cost on £180,000 of funding is £5,000, and the effective annualised rate would depend on whether the agency reuses the facility continuously and on exact fee mechanics.
• If some clients pay late, costs may increase and cash flow planning needs to account for that extension.

In both examples, the key drivers of cost are utilisation (how much of the available limit you use), debtor days (how quickly customers pay), fee structure, and any additional charges such as minimum usage or service fees. Because effective cost is sensitive to these factors, businesses often find it helpful to model scenarios in a business loan calculator or spreadsheet that estimates total fees under different payment profiles, even though these facilities are not standard term loans.

3. Speed and service

Kriya

Kriya highlights a streamlined digital process, including online applications and API-driven integrations for invoice and accounting data, according to the journey described on its suppliers solutions pages. Kriya states that decisions and funding can be relatively quick compared with traditional bank processes, but as of 2026 it does not consistently publish guaranteed approval times, so actual speed varies. Integration with accounting packages and order or invoice data can reduce manual documentation and help Kriya assess risk rapidly, as suggested by its references to automated eligibility checks in its buyer finance documentation.

On service, Kriya emphasises ongoing account management support and dedicated teams for buyers and suppliers, reflected in the contact routes given in its contact page. External reviews and press coverage, where available through third-party sources such as industry news and independent review platforms, generally describe Kriya as a technology-led lender, though individual experiences can differ and may have changed after 2025; users should therefore cross check up-to-date feedback.

Sonovate

Sonovate also highlights speed, particularly the ability for recruitment agencies to access funding soon after timesheets are approved, based on explanations in its product information. However, specific same-day or next-day guarantees are not consistently published for all customers as of 2026, and Sonovate notes that availability and timing can depend on successful onboarding, credit assessment, and the quality of the end-client base, as outlined in its terms.

For service, Sonovate emphasises sector expertise in recruitment and consultancy and presents case studies where agencies discuss support with debtor management and growth planning, for example in articles on its resources and customer stories section. As with Kriya, there is no universal measure of satisfaction; independent review sites and trade publications provide mixed but generally positive commentary for recruitment use cases, though these external reports can change over time and should be checked for current sentiment.

4. Who each lender suits

Kriya is likely to suit

• B2B suppliers with diverse invoice books: Firms selling to multiple business customers where working capital needs track invoice volume, and where it is practical to link systems or upload invoices so that Kriya can advance funds against receivables, consistent with the use cases highlighted in its supplier-focused content.
• Businesses wanting embedded buyer finance options: Companies that want to offer their customers extended payment terms or staged payments at checkout or order stage while receiving cash quickly themselves, as described in Kriya's buyer solutions.
• SMEs that can provide robust financial data: Because Kriya relies on electronic data feeds and documentation, businesses with up-to-date accounting records and clear transaction histories are better placed to qualify and maintain facilities.

Sonovate is likely to suit

• Recruitment agencies funding contractor payroll: Sonovate's core proposition is advancing money to recruitment firms so they can pay contractors and temps before the end client pays, as repeatedly mentioned on its main site. This makes it a natural fit for agencies with regular contractor payroll cycles.
• Consultancies and project-based firms billing after delivery: Consultancy businesses that invoice on completion or milestones and face working capital gaps until client payment may benefit from Sonovate advancing a high percentage of invoice value, as per examples on its case study pages.
• Firms comfortable with a specialist sector lender: Sonovate's tools and processes, including timesheet integrations and contractor-specific workflows, are tailored to staffing and project-based businesses rather than to general trading companies.

In both cases, businesses should consider whether assigning control over invoice collections and relationships with debtors is acceptable, because receivables-based funding can involve the funder taking a more direct role in credit control depending on contract structure.

5. How to apply

Applying to Kriya

Based on the steps described across Kriya's supplier pages, its buyer solutions pages and its contact section, the process typically involves:

• Initial enquiry: Completing an online form or speaking to Kriya to outline your business, turnover, and funding needs.
• Data sharing: Granting access to accounting software or providing recent financial statements, management accounts, and details of major customers so Kriya can assess credit quality and invoice flows.
• Offer and contract: Receiving an indicative offer that sets out facility limits, advance rates, fees, eligibility criteria and any security requirements; if accepted, the business signs the facility agreement electronically, consistent with the e-signature arrangements mentioned in its legal documents.
• Onboarding and drawdown: Uploading or integrating invoices and drawing down funds according to the agreed process once onboarding, KYC and any other compliance checks are complete.

Eligibility criteria are not exhaustively listed for all products as of 2026, but Kriya generally expects UK-based businesses with B2B trading, sufficient trading history, and acceptable customer credit quality, which aligns with summaries on its business finance overview.

Applying to Sonovate

Sonovate outlines its onboarding journey for recruitment and consultancy firms in its how it works content and describes key considerations in its FAQ. The process usually involves:

• Online application: Agencies share details such as legal entity, directors, shareholding, trading history, and expected invoice volumes.
• Client and debtor assessment: Sonovate reviews the quality of end clients, including creditworthiness and payment behaviour, since funding is advanced against those invoices.
• Agreement and documentation: The agency signs a funding agreement that sets advance rates, fees, eligible client lists, and any concentration limits or covenants.
• System setup: Agencies integrate timesheet and invoicing processes with Sonovate's platform so that contractor hours, invoicing and funding can be managed in one workflow.

Sonovate does not publish rigid minimum criteria for all products as of 2026, but it indicates that agencies must be UK-based businesses with suitable end clients and acceptable compliance information, as reflected in its onboarding descriptions within its terms and conditions.

6. Final verdict

Both Kriya and Sonovate are credible, UK-based receivables funders with strong technology stacks, but they are optimised for different types of businesses. Because neither lender publishes fixed price lists and because suitability depends heavily on your sector and debtor profile, it is prudent to treat any preliminary offer as one data point and to compare it with alternatives from banks and other specialist lenders.

Choose Kriya if:

• You are a B2B supplier or service business with a diversified ledger of business customers rather than a specialist recruiter or consultancy only
• You want flexible invoice-backed working capital or embedded buyer finance tools that sit close to your sales processes
• You have or can provide clean digital data from your accounting and invoicing systems to support automated underwriting
• You value the option of combining different working capital tools from one fintech provider over time rather than using a recruitment-specific funder

Choose Sonovate if:

• You run a recruitment agency or consultancy that needs to fund contractor payroll or project costs before your end clients pay
• Your debtor book is heavily concentrated in a limited number of end clients and you want a provider that understands recruitment risk and timesheet-based workflows
• You prefer a funding platform built around recruitment and consultancy use cases, including timesheet management and payroll integrations
• You are comfortable with a facility that is tightly linked to your invoicing and timesheet cycle rather than a more general-purpose working capital line

For many businesses, particularly those with complex cash flow needs or growth plans, it can also be useful to explore additional invoice finance or working capital providers and to benchmark offers against the operational benefits and constraints each lender imposes.

7. Sources

• Kriya main site and product overview: Kriya, Suppliers solutions, Buyers solutions, Invoice finance related pages, and legal and terms pages
• Kriya background and updates: Kriya blog and announcements on rebranding from MarketFinance, product changes and partner integrations
• Sonovate company and product information: Sonovate UK website, including about page, how it works, platform overview and funding product pages
• Sonovate legal, FAQs and sector positioning: terms and conditions, FAQ, resources and customer stories, and partner information
• Additional cross-checking of product positioning and sector focus via 2024 to 2026 industry press releases, trade press coverage and independent review platforms mentioning Kriya (formerly MarketFinance) and Sonovate, to confirm that both remain active in UK business receivables funding and maintain the described B2B and recruitment/consultancy orientations respectively