Ryft secures Series A follow on investment from Ingenii VC and Pembroke VCT to expand payment platform
Ingenii VC and Pembroke VCT provide follow on funding to support the rollout of Ryft's unified omnichannel payment infrastructure.
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 follow on investment from early backers Ingenii VC and Pembroke VCT to support the rollout of its new omnichannel payment platform. The latest capital injection follows the company's Series A financing announced earlier in the year and arrives alongside strong growth metrics, including consecutive quarterly client increases.
The Manchester-based payment services provider aims to challenge established providers by offering unified transaction processing for digital platforms and physical retail operations. The funds will help the firm execute its product roadmap and prepare for expansion into European markets.
Key backers have expressed confidence in the executive team as they address complexities in transaction reconciliation and reporting. The company continues to target ambitious growth targets for recurring revenue over the coming year.
From the founder
"Since launching our automated online payment solutions, we’ve had repeated calls to bring the same simplicity and speed to integrated payments. Businesses processing both in-person and online payments – whether they’re marketplaces, franchises, or acquirers – have lacked a truly competitive solution, leaving too many relying on cumbersome and unnecessarily complicated end-of-month reconciliations and reporting. With the launch of our omni-channel payment platform, Ryft will enable businesses operating online and in-store to efficiently process, manage, and monetise payments at scale in a secure and compliant way. In turn, allowing them to maximise the value of every transaction."
Sadra Hosseini
CEO and Co-founder at Ryft
Investor perspective
"Our follow-on investment reflects the impressive growth that we’ve seen from Ryft and our conviction in Sadra, Alex and the team as they tackle one of the most stubborn challenges in commerce: fragmented, costly payments. By unifying online and in-person transactions into a single platform, Ryft is building the payment system that omnichannel businesses need to scale efficiently. Their customer-first approach and relentless execution continue to set them apart in a crowded market."
Fred Ursell
Head of Investments at Pembroke Investment Managers, Pembroke VCT
Use of funds
- 01Continue product development
- 02Expand into international markets
