Ryft’s €23 million funding boost fuels European growth strategy

Manchester-based payments company Ryft has recently secured a €23 million (£20 million) Series B funding round as part of efforts to bolster British tech companies and enhance payments infrastructure across Europe. The funding round was led by Gresham House Ventures, with existing investors Pembroke VCT and Ingenii Capital also participating. This follows a previous €6.6 million Series A round in April 2025.

In a statement regarding the investment, Ryft’s CEO and co-founder, Sadra Hosseini, expressed excitement about the opportunity to expand their presence in new European markets and compete globally in the payments industry. Hosseini emphasized the company’s goal of offering a powerful and efficient alternative to businesses worldwide, challenging the dominance of established incumbents.

The Series B funding for Ryft comes amidst significant investment in European payments infrastructure in 2026. EU-Startups has reported approximately €224.8 million in relevant funding rounds this year, with notable investments in London-based Primer, British payments company Sokin, Amsterdam’s Silverflow, and Klearly, among others. The UK has been a focal point for these investments, aligning with the country’s push to support British tech companies.

Economic Secretary to the Treasury, Lucy Rigby, commended Ryft’s success as a testament to Manchester’s thriving FinTech sector and highlighted the government’s commitment to backing companies like Ryft that drive economic growth and job creation.

Established in 2021 by Alex Mackenzie, Richard Kirby, and Sadra Hosseini, Ryft specializes in building payment solutions for marketplaces, platforms, and multi-location businesses. Their services include managing seller onboarding, complex transaction flows, recurring billing, split payments, and cross-border payouts through a unified integration. Ryft has formed partnerships with industry giants such as Global Payments, Visa, Mastercard, American Express, and Nuvei.

With a focus on expansion across Europe and the US, Ryft plans to use the recent investment to accelerate product development and target higher-tier markets. As part of their European expansion strategy, Ryft has applied for a full EU license from the Malta Financial Services Authority (MFSA) to passport services across the European Economic Area.

Rohit Mathur, Partner at Gresham House Ventures, praised Ryft as a UK-built, FCA-regulated FinTech company designed for multi-party payments in the evolving commerce landscape. He emphasized the importance of national economic sovereignty in the payments sector and highlighted Ryft as a domestic champion with innovative payment architecture for the future.

The funding announcement for Ryft was accompanied by an advertisement showcasing their achievements and growth trajectory. This investment reaffirms Ryft’s position as a leading player in the payments industry, with a focus on driving innovation and competition on a global scale.