iwoca vs Kriya (Allica Bank): UK Invoice Finance Comparison 2026
Kriya (Allica Bank) edges this one in our 2026 UK review at 4.5 of 5 against 4.3 for iwoca. Both are UK fintech invoice finance platforms. The difference is selective per-invoice vs whole-ledger, integration depth and how the pricing scales with usage. iwoca advances n/a (credit line, not advance against ledger) with setup in same day to 1 working day; Kriya (Allica Bank) advances up to 100% per invoice with setup in 1 working day. iwoca still wins where businesses with few invoices matters more than the headline score. Read the side-by-side, then check the "when X wins" sections for the buyer-fit logic.
Side-by-side
| iwoca | Kriya (Allica Bank) | |
|---|---|---|
| Cluster | fintech | fintech |
| Product type | Flexi-loan and revolving credit (not invoice finance) | Single-invoice finance, embedded finance |
| Min turnover | No fixed minimum | No minimum |
| Advance rate | N/A (credit line, not advance against ledger) | Up to 100% per invoice |
| Typical fee | From around 2% per month on drawn balance | 1% to 4% per invoice |
| Contract / commitment | Factoring only | Confidential discounting |
| Confidential available? | No | Yes |
| Factoring available? | No | No |
| Setup speed | Same day to 1 working day | 1 working day |
| Best for | Businesses with few invoices; Fast one-off cash flow gaps; Owners who want no debtor contact | Single-invoice selective need; Startup and micro-business; API-driven workflows |
| Overall rating | 4.3 / 5 | 4.5 / 5 |
| Last reviewed | 2026-05-27 | 2026-05-12 |
When iwoca wins
- Same-day decisions and fast drawdown.
- No factoring of the ledger and no customer notification.
- Draw and repay flexibly; interest only on what is used.
- Strong fit when there are few or large single debtors.
Best for
Businesses with few invoices, Fast one-off cash flow gaps, Owners who want no debtor contact.
Watch outs
- Not invoice finance: it lends against the business, not invoices.
- Monthly interest can exceed invoice finance for sustained borrowing.
- Facility size capped lower than a whole-ledger IF limit.
When Kriya (Allica Bank) wins
- Pay-per-invoice model, no whole-book commitment.
- Setup in 1 working day, fastest in market.
- API-first integrations with Xero, QuickBooks, Sage.
- Allica Bank backing post-acquisition Oct 2025.
Best for
Single-invoice selective need, Startup and micro-business, API-driven workflows.
Watch outs
- Cost-per-invoice can exceed whole-ledger facility for high-volume users.
- Not suitable for businesses wanting committed whole-book limit.
- Limited human relationship vs incumbent IF lenders.
FAQ
iwoca or Kriya (Allica Bank): which is the better UK invoice finance provider in 2026?
Kriya (Allica Bank) scores higher overall in our 2026 review at 4.5 of 5 versus 4.3 for iwoca. That headline does not settle the answer though. iwoca is the stronger pick for businesses with few invoices; Kriya (Allica Bank) is the stronger pick for single-invoice selective need. If your business fits one of those use cases, ignore the rating and pick the right fit.
What are the headline commercials, iwoca vs Kriya (Allica Bank)?
iwoca advances n/a (credit line, not advance against ledger) at from around 2% per month on drawn balance. Kriya (Allica Bank) advances up to 100% per invoice at 1% to 4% per invoice. Minimum turnover is No fixed minimum for iwoca and No minimum for Kriya (Allica Bank). Setup runs same day to 1 working day for iwoca and 1 working day for Kriya (Allica Bank). Bespoke pricing is common above £1m ledger so verify before signing.
Can I get a confidential facility with either iwoca or Kriya (Allica Bank)?
iwoca does not run a confidential discounting product; the facility is disclosed factoring only. Kriya (Allica Bank) offers confidential invoice discounting. If your customer relationships make disclosure a non-starter, that determines the answer regardless of headline rate.
Where does each one struggle?
iwoca is the wrong fit for high-volume sales ledgers better suited to factoring. Kriya (Allica Bank) is the wrong fit for high-volume whole-ledger users. If either describes your business, browse the side-by-side or get matched against the wider UK panel via our quote form.
Can Market Invoice help me choose between iwoca and Kriya (Allica Bank)?
Yes. We are an independent UK invoice finance comparison operated by Best Business Loans Ltd (16833937). We are not tied to either provider. Tell us monthly turnover, sector, debtor profile and whether you need the facility confidential. We match you against the UK invoice finance providers most likely to approve at a competitive rate, then stay your editorial reference for life.
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Get quotes →Reviewed by Oliver Mackman, Director. Last reviewed: 2026-05-27. Editorial by Best Business Loans Ltd (16833937).