October 23, 2025
Lender Comparisons

Compare Sonovate vs Kriya: Loans & Features

Compare Sonovate and Kriya for loans: rates, features, eligibility, and application speeds for informed choices.
James Laden
Co-founder and CEO

This guide compares Sonovate and Kriya for UK SMEs. Both provide working capital against invoices, but they take different routes. Sonovate specialises in recruitment and contractor finance. Kriya offers selective invoice finance, embedded PayLater, and business loans. With cash flow still tight in 2025, the choice affects cost, speed, and how your funding scales.

TL;DR
  • Sonovate is built for recruitment and contractor-led firms, with up to 100% prepayment and integrated back office.
  • Kriya offers selective invoice finance up to 90% and embedded B2B PayLater, plus loans up to c. £500k.
  • Sonovate pricing is a single fee with bad debt protection available; Kriya uses a transparent fee plus discount model on funds in use.
  • Funding speed for both can be within 24 hours once set up. Kriya now has bank-level funding after joining Allica Bank.
  • Pick Sonovate for recruitment scale and payroll confidence. Pick Kriya for multi-use working capital, embedded checkout, and one-off invoice funding.

Products and Terms at a Glance

Sonovate overview, loan sizes, fees, repayment style, terms, eligibility

Sonovate is a specialist platform for recruitment agencies, consultancies, and contractor payroll. It advances cash against invoices so you can pay workers on time and scale placements. Public materials state advances of up to 100% of invoice value, with funds typically available within one to two business days once live. Pricing is a single, transparent fee, and 95% bad debt protection is commonly available. Sources include Sonovate’s invoice finance and product pages which highlight up to 100% prepayment, quick access, and no hidden fees.

Eligibility focuses on B2B firms that raise invoices for completed work or timesheets. Sonovate works across agency sizes, from start-up to enterprise, and does not impose classic concentration limits according to recent FAQs and blogs. Set-up includes onboarding on the platform, linking timesheet and billing processes, and agreeing credit limits for end clients.

Assumptions noted: Sonovate does not publish a standard APR. It prices funding as a platform fee plus any optional services. Where exact fee bands are not public, we use worked examples to show cash-flow impact.

Pros of Sonovate

  • Up to 100% prepayment against invoices for fast cash flow.
  • Designed for recruitment workflows, including timesheets and payroll.
  • Bad debt protection commonly available and simple fee structure.
  • No traditional concentration limits in many cases, helping scale with key clients.
  • Funding typically within 1–2 business days after invoice submission.

Cons of Sonovate

  • Specialist focus suits recruitment and contractor markets. General SMEs may prefer broader facilities.
  • Facility economics link to invoice volumes. Low or seasonal volumes can raise effective cost per pound borrowed.
  • May require operational integration around timesheets and approvals.

Kriya overview, loan sizes, fees, repayment style, terms, eligibility

Kriya (formerly MarketFinance) offers selective invoice finance and embedded PayLater for B2B checkouts. It also provides working capital loans alongside receivables funding. Kriya’s invoice finance page states advances up to 90% of invoice value, with funding within 24 hours and transparent fees. Kriya has processed more than £28bn of payments and advanced over £3bn of loans and credit historically. In October 2025 Kriya became part of Allica Bank, giving it deeper funding lines and a plan to deploy £1bn of working capital over the next three years.

Loans have been marketed up to around £500,000 based on Kriya’s education articles and historic product pages. Terms vary by credit profile and purpose. Eligibility suits established SMEs with B2B invoices, and merchants that want to offer PayLater terms to buyers at checkout.

Assumptions noted: Kriya’s live loan rate cards are not public. We reference its own guides and third-party reviews for typical sizes and use worked examples. Always check your personalised quote.

Pros of Kriya

  • Selective invoice finance up to 90% per invoice with pay-as-you-go use.
  • Embedded B2B PayLater can boost conversion and average order value.
  • Access to bank-scale funding via Allica Bank ownership in 2025.
  • Loans for projects alongside receivables finance.
  • Integrations and fast decisions for many use cases.

Cons of Kriya

  • Advance rate is typically up to 90%, lower than Sonovate’s headline 100% for recruitment invoices.
  • Fee plus discount margin means costs can rise if the base rate increases.
  • Embedded credit requires technical setup and buyer acceptance processes.

Costs and Repayments in Practice

Invoice finance costs fall into two common models. A platform or service fee plus a discount charge on funds in use, or a simplified single-fee model with risk cover included. Sonovate positions pricing as a single transparent fee with 95% bad debt protection included on many plans and no set-up, service, or audit fees based on its materials. Kriya’s selective invoice finance uses a transparent fee and a discount rate on advances, with funding within 24 hours and clear buyer limits.

Feature Sonovate Kriya
Primary focus Recruitment and contractor finance platform Selective invoice finance, B2B PayLater, and loans
Typical advance Up to 100% of invoice value (subject to client and credit) Up to 90% of invoice value
Speed to funds Typically 1–2 business days once set up Within 24 hours for approved invoices
Pricing model Single, transparent fee with optional risk cover Service fee plus discount margin on funds in use
Bad debt protection Available, often included at 95% cover Offered via credit limits and risk checks on buyers
Loans Not a core public product Working capital loans, historically up to c. £500k
Who it suits Agencies placing temps or contractors at scale Product and service SMEs needing selective invoices funded and checkout terms

Worked example: Sonovate

Assume you are a tech recruitment agency. You raise a £50,000 timesheet invoice for a month of contractor work. Sonovate advances 100% (£50,000) within two business days. Suppose a single platform fee of 3.5% for a 45-day expected payment. Your cash in is £50,000 today. Your cost is £1,750 when the client pays. Effective cost of funds for the 45-day period is about 3.5% of the invoice. You keep operations simple because risk cover and collections support are built into the platform.

This is illustrative. Sonovate quotes are tailored by client, sector, debtor quality, and volumes.

Worked example: Kriya

Assume you are a wholesaler with a £50,000 invoice to a national retailer on 60-day terms. You fund it selectively. Kriya advances 90% (£45,000) within 24 hours. Suppose a 1.5% service fee on the invoice and a discount rate of 7.5% per annum (base plus margin) on funds in use. You draw the £45,000 for 60 days.

  • Service fee: £750 (1.5% of £50,000).
  • Discount cost: about £554 (7.5% per annum on £45,000 for 60 days).
  • Total cost for this invoice cycle: ~£1,304. You receive the remaining 10% (£5,000) less fees when the buyer pays.

Rates are assumed for illustration. Kriya’s page confirms up to 90% advances and funding within 24 hours, with transparent fees and buyer limits.

Sonovate vs Kriya: pick the right cash flow fit

This dashboard compares rates, amounts, terms, speed, and fees for Sonovate and Kriya. Read each tab left to right. Bars show ranges where known. Dots mark a typical point based on the worked examples. Use it to judge cash cost, how much you can draw, how fast funds land, and what digital features help your team today. Figures use the guide’s examples and public claims. Where bands are not published, we plot the example so you can still make a call.

Bars show the effective cost per 30 days. The dot shows the typical cost in the worked example. Sonovate’s point is based on a 3.5% fee over 45 days. Kriya’s point blends a 1.5% service fee and a 7.5% p.a. discount on funds in use. Pricing moves with credit quality, sector risk, security, and term. A 1% rate gap on £100,000 over 5 years changes monthly by about £– and total interest by about £–. Favour the lower typical if your profile is strong and stable. Watch the range if files are complex or terms can stretch.

These bars map usable amounts from the examples. Sonovate advances up to 100% on the £50,000 recruitment invoice in our case. Kriya advances 90% on a £50,000 invoice and also offers loans up to about £500,000. Invoice finance is secured on receivables. Loans may be unsecured or secured subject to checks. Match min to fit‑out or stock, and max to capex or larger projects. Affordability and security set your true ceiling, not the headline max.

Bars show invoice funding duration in days. Sonovate’s example assumes 45 days to payment. Kriya’s selective model commonly sits between 30 and 90 days. Longer terms cut monthly cost but lift total interest. At £50,000, 3 years vs 6 years at an illustrative rate changes the monthly to about £– vs £– and adds roughly £– extra interest over the life. Longer terms suit seasonal cash flow and growth plans. Shorter terms suit faster payback and lower total cost.

Each bar splits time from application to decision and decision to funds. Fastest markers show the best case. Sonovate usually funds in one to two business days once live. Kriya targets funding within 24 hours on approved invoices. Deals slow when documents are missing, statements are unclear, or added security is needed. If payroll is due in 5 days, Kriya’s faster path is safer. Fast paths assume clean files and quick signatures.

We chart application and late fees where publicly stated. Sonovate highlights no set‑up, service, or audit fees in its materials. Kriya positions transparent fees. Legal or valuation costs, where applicable, are not shown. A £150 fee on a £20,000 loan adds 0.75% to day‑one cost. Compare fees alongside rate and term. Do not judge them in isolation.

Percentages are calculated on the principal or invoice value. Some products deduct fees upfront. Others add them to the balance. Our Kriya point uses the 1.5% service fee in the invoice example. Sonovate pricing is a single periodic fee so the bar shows zero for an arrangement‑style fee. Worked example: 1.5% on £250,000 equals £–. A lower rate with a higher fee can still be cheaper over long terms. Run the maths on your expected hold time.

Scores use the guide claims. Booleans score 1. Integrations are counted. UX is on a 1 to 5 scale. Sonovate focuses on back‑office links for timesheets and payroll. Kriya offers embedded PayLater at checkout and selective invoice funding. Open banking and mobile are set to zero here as we do not cite them in the guide. Busy owners and multi‑entity groups benefit most from strong integrations and a clear UX. Faster reconciliations mean fewer month‑end delays.

Stars are on the left axis. NPS sits on the right. Review volumes affect stability of the signal. Branch and case experiences can vary. We do not plot live scores here because the guide does not state numbers. Read recent reviews and match themes to your needs, such as speed, document asks, and portal ease.

Speed and Service

Both providers aim to fund within 24–48 hours once your facility is live. Kriya publicly states 24 hours from invoice upload to advance on approved buyers, with instant buyer checks and limits. Sonovate highlights quick access to funds, often within one to two business days, tied to its platform workflow for timesheets and approvals.

In October 2025, Kriya joined Allica Bank. That gives Kriya access to larger and more stable funding lines. Kriya and Allica state a plan to deploy £1bn of working capital over the next three years. That can support higher limits for suitable SMEs and embedded PayLater growth.

Who Each Lender Suits

Typical scenario for Sonovate

A growing staffing firm places 50 contractors on rolling assignments. Payroll hits before clients pay. Invoice finance through Sonovate releases up to 100% of each invoice. The firm covers payroll on time and adds new client sites without strain. Bad debt protection helps mitigate end-customer risk.

Typical scenario for Kriya

A manufacturer sells to trade buyers with 30–90 day terms. It needs flexible working capital for peaks and a way to offer checkout terms on its B2B store. Kriya’s selective invoice finance funds one invoice at a time. Embedded PayLater lets approved buyers spread payments while the manufacturer gets paid upfront. If a capex project arises, the business can consider a fixed-term business loan alongside receivables funding.

How to Apply

Application steps and documentation required for each lender

Sonovate. Book a call and complete platform onboarding. Provide company details, trading history, sample invoices, debtor analysis, and timesheet processes. Sonovate will set buyer limits, connect payroll workflows, and confirm pricing. Once live, you upload invoices and draw funds, typically within one to two business days. Bad debt protection and collections support can be included.

Kriya. Start online. For invoice finance, upload invoice details and your buyer’s information. Kriya runs instant checks and sets a buyer limit. For loans, share recent bank statements and accounts, and confirm the amount and term. Approved funds can be released within 24 hours for invoice finance and within a few days for loans, subject to due diligence.

Final Verdict: Which Lender Fits Your Business Best

Choose Sonovate if…

  • You are a recruitment or contractor-led business and want up to 100% prepayment.
  • You need payroll confidence with simple, single-fee pricing and risk cover.
  • Your growth is constrained by client payment terms and weekly timesheets.
  • You prefer a platform built around timesheets, approvals, and worker payments.

Choose Kriya if…

  • You want selective funding per invoice up to 90% with fast 24-hour settlement.
  • You plan to offer B2B PayLater at checkout to increase conversion and order value.
  • You may also need a fixed-term business loan alongside receivables finance.
  • You value a provider backed by a UK bank with capacity to scale facilities.

Match the funding shape to your operation. Sonovate suits labour-based invoices with weekly cycles. Kriya suits selective draws, embedded terms for buyers, and blended facilities with loans.

Ready to compare options with a specialist? Speak to Funding Agent or start an application via our enquiry form.

Sources

Sonovate recruitment finance: up to 100% prepayment, fast accessSonovate invoice finance overview: up to 100% of invoice valueSonovate product FAQs: 1–2 business days to fund, no concentration limitsSonovate pricing blog: no set-up, service or audit fees; 95% bad debt protectionKriya invoice finance: up to 90% advance within 24 hours, transparent feesKriya homepage: products and scale metricsKriya rebrand note (MarketFinance to Kriya)Kriya loans blog: loans up to around £500,000Kriya acquired by Allica Bank: plan to deploy £1bn working capitalNews coverage: Allica Bank acquires KriyaKriya PayLater on Stripe

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