🇮🇸 Deal announcement: €30 million financing for Kríta

WinYield has finalised a 30M EUR (ISK 4 billion) financing agreement with the Icelandic fintech company Kríta. This agreement not only strengthens Kríta’s loan book but also paves the way for accelerated growth and increased market expansion. With this agreement, WinYield also has become a shareholder in the company and has an exclusive deal with Kríta, making Kríta one of the best funded lending companies in Iceland.

“Kríta is a fintech company that is breaking away from the outdated banking loan system by prioritizing speed and digital simplicity. Capital that would otherwise remain tied up in unpaid invoices is put into circulation, creating greater flexibility and opportunities for businesses,” says Stefán Jökull Stefánsson, Chairman of the Board at Kríta.

“Kríta has already a long history of doing business in Iceland and this financing will help to start the second leg of the growth plan providing unique financing solutions to a broad range of businesses in Iceland and become the leading non bank lending platform in the region,” says Fabricio Mercier, Director at WinYield.

About Kríta: Turning Unpaid Invoices into Liquid Cash

Companies can receive financing of up to ISK 100 million (680k EUR) from Kríta by converting their unpaid invoices into cash flow for their operations. Businesses send invoices to their customers as usual, and these invoices automatically appear on their Kríta.is account. From there, they can select one or more invoices for financing, and within 24 hours, they receive a loan offer that they can either accept or decline. Additionally, companies can access business loans of up to ISK 500,000.

Originally published on 26 March by Winyield.

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