Ryft raises £20m in a Series B round led by Gresham House Ventures for international expansion
Gresham House Ventures led the Series B round, with participation from existing backers Pembroke VCT and Ingenii Capital.
Share allotment filed at Companies House
Ryft operates a Manchester-based payments company that provides multi-party transaction splitting infrastructure.
Manchester-based payments company Ryft has raised £20m in a Series B funding round led by Gresham House Ventures. Existing backers Pembroke VCT and Ingenii Capital also participated in the round.
The company plans to use the fresh capital to support its international expansion into Europe and the US, which includes pursuing a full EU payments licence from the Malta Financial Services Authority.
Ryft provides infrastructure that plugs into acquiring banks, allowing platforms and marketplaces to split single transactions among multiple parties, hold funds in escrow, and automate payouts.
From the founder
"This round of investment means we can take what we’ve built in the UK into new European markets and compete on the global stage. Payments have been dominated by a small number of incumbents for a long time. We want to provide a powerful and efficient alternative to businesses, not just in Europe, but globally,"
Sadra Hosseini
Co-founder and chief executive at Ryft
Use of funds
- 01Expand into international markets
