iwoca vs Kriya (Allica Bank): UK Invoice Finance Comparison 2026
These are different products rather than like-for-like invoice finance rivals: iwoca is flexi-loan and revolving credit (not invoice finance), while Kriya (Allica Bank) is invoice finance. UK businesses still weigh them side by side, so the real question is which job you need doing, not which is the better invoice finance line. iwoca is flexi-loan and revolving credit (not invoice finance), typically set up in same day to 1 working day; Kriya (Allica Bank) advances up to 100% per invoice with setup typically in 1 working day. iwoca has no fixed minimum turnover, Kriya (Allica Bank) has no minimum turnover. Read the side-by-side below, then jump to the "when X wins" sections.
Side-by-side
Full reviews: iwoca · Kriya (Allica Bank)
| iwoca | Kriya (Allica Bank) | |
|---|---|---|
| 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 | Not a direct invoice finance facility | Confidential discounting |
| Confidential available? | N/A | Yes |
| Factoring available? | N/A | No |
| Setup speed | Same day to 1 working day | 1 working day |
| 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, the fastest setup we track.
- 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 fits your business in 2026?
They do different jobs: iwoca is flexi-loan and revolving credit (not invoice finance), Kriya (Allica Bank) is invoice finance, so pick by the job you need doing. iwoca is the stronger fit for businesses with few invoices; Kriya (Allica Bank) fits single-invoice selective need better. The "when X wins" sections above break this down by profile, and the commercials are covered in the next question.
What are the headline commercials, iwoca vs Kriya (Allica Bank)?
iwoca (flexi-loan and revolving credit (not invoice finance)) prices at from around 2% per month on drawn balance. Kriya (Allica Bank) advances up to 100% per invoice at 1% to 4% per invoice. iwoca has no fixed minimum turnover, Kriya (Allica Bank) has no minimum turnover. Setup runs same day to 1 working day for iwoca and 1 working day for Kriya (Allica Bank).
Can I get a confidential facility with either iwoca or Kriya (Allica Bank)?
iwoca is flexi-loan and revolving credit (not invoice finance), not an invoice finance facility, so confidential invoice discounting does not apply. Kriya (Allica Bank) offers confidential invoice discounting (your customers are not notified).
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. marketinvoice.co.uk is an independent comparison and introducer service operated by Best Business Loans Ltd (company 16833937), and is not tied to either provider. Share your turnover, sector and debtor profile and we will match you against UK invoice finance providers likely to approve, with no obligation to proceed.
Related
Sources
- Rates, advance percentages and product details checked against iwoca's own site as of 2026-05-27.
- Rates, advance percentages and product details checked against Kriya (Allica Bank)'s own site as of 2026-05-12.
- Allica Bank press release: Allica Bank acquires fintech Kriya (completed 20 October 2025)
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Get quotes →Reviewed by Oliver Mackman, Director, Best Business Loans Ltd. Last reviewed: 2026-05-27. Editorial by Best Business Loans Ltd (16833937).
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Disclosure: marketinvoice.co.uk is an independent invoice finance comparison and introducer service operated by Best Business Loans Ltd (company number 16833937). It is a separate business and is not connected to MarketFinance / Kriya or to any provider named on this page. If you take out a facility after we introduce you to a lender or broker, we may be paid a commission or referral fee by that party; this is never added to your costs. Invoice finance for limited companies is not a regulated activity, so this comparison is general information rather than regulated financial advice. Figures are indicative; larger facilities are commonly priced bespoke, so confirm terms directly with the provider before you sign.