Big moment for Kriya as UK retailer Halfords taps its PayLater solution for B2B wholesale orders

Halfords is now powering B2B wholesale orders with Kriya PayLater.

In a LinkedIn post, Anil Stocker, CEO and Co-Founder at Kriya, said: “This is the first big milestone in our partnership with Halfords, but also a big moment for Kriya. We’re delivering on our vision to help enterprises grow by removing the friction from B2B commerce.”

He added: “In this first phase we’ve tackled wholesale. It’s a complex, analogue sales channel which we’ve digitised with our Merchant Portal. Now, Halfords’ B2B buyers are onboarded in seconds and wholesale orders can be processed with ease.”

This helps the retailer to convert a bigger base of buyers by offering payment terms, process bigger order values, more often, and reduce friction and cost of sale.

Stocker concluded: “This is just the beginning. We have exciting projects in the pipeline to bring PayLater to Halfords e-commerce, Trade Card, and much more too!”

“A big shout out to Anthony Caie (Director of B2B, Services & Financial Services at Halfords), Stuart Zissman (Head of Consumer Financial Services) and Chloe Roberts (Proposition Manager) for your vision, it’s great to be working with you. And a big thank you to my team for making it happen.”

Through the Halfords Trade Card, the company provides its members exclusive deals on tools and spare parts. It also offers wholesale purchasing for councils, schools and universities, and supplies the Cycle2Work scheme for businesses.

Mechanics and tradespeople are typically paid after their end jobs are complete, putting a strain on working capital if parts need to be sourced in advance.

By working with the PayLater solution, Halfords says it is helping Trade Card holders and business customers better manage their cash flow with the ability to purchase on flexible payment terms.

Anthony Caie, Director of B2B & Services at Halfords, said last year: “Being able to offer flexible payment terms to our B2B customers underpins our market offering.”

“We want to invest in modernising the checkout process to attract more customers and drive loyalty in our customer base. Kriya has great experience with a number of large businesses, which made them a clear choice of partner.”

“We’re excited to work with Kriya to digitise and provide flexible payment terms to a much wider range of trade customers.”

Funding facility

Earlier this year, London-based Kriya raised a new £50 million funding facility via Viola Group, the Israeli tech investment group, which provided the FinTech with a £30 million credit facility in 2023.

Kriya is backed by investors including Northzone, Barclays, Santander, and Cogito Capital Partners.

It said the new funding facility would allow it to power £1 billion+ B2B payments over the next 24 months, as it looked to double down on its PayNow and PayLater embedded credit and payments offering for B2B retailers and marketplaces.