Seed1 September 2022

Ryft raises £1.2m in seed funding led by SFC Capital to accelerate platform development and team expansion.

SFC Capital led the seed round to support team and platform growth at the payments startup.

£1.2MSeed

Ryft operates as a payment services provider that delivers automated processing and reconciliation for digital platforms, marketplaces, and franchises. The company offers a consolidated architecture that combines online and in-person transactions through a single integration point.

Ryft has secured £1.2m in seed funding led by SFC Capital, alongside participation from the ex-founder of Shutterstock and the founder of LoveFilm. The capital will be deployed to accelerate platform development and expand the team.

The London-based payments firm offers automated next day payouts for marketplace businesses and sub-merchants for a flat fee. Founded by longtime friends Sadra Hosseini and Alex Mackenzie following their mobile ordering venture getbutlr.com, Ryft addresses complex money routing and PSD2 compliance requirements for digital platforms.

The fresh funding follows rapid growth for the founders in the mobile ordering sector, positioning Ryft to capture market share among marketplaces seeking alternatives to traditional payment providers.

From the founder

"We are both incredibly excited to be working with SFC Capital to further our ability to provide seamless support to marketplaces and merchants within the industry and continue to solve the current problems associated with complex money routines under PSD2 regulation. Ryft was created to handle everything so your business doesn't have to."

Sadra Hosseini

CEO and Co-founder at Ryft

Investor perspective

"We are excited to work with Ryft in supporting marketplace businesses with a unified payment platform designed to power B2B platforms and provide a seamless experience for merchants and marketplaces. Following the success of their first business, Sadra and Alex have put together the essential aspects to solve the pain points experienced in the business payment platform landscape."