Ryft's $25M Raise: The British Fintech Quietly Building Europe's Payment Rails

Jan de Vries · 2026-09-17

Manchester-based payments company Ryft just closed a $25 million Series B round. That's roughly £20 million for those keeping score at home. And it says a lot about where European fintech is heading. The round was led by Gresham House Ventures, with existing investors Pembroke VCT and Ingenii Capital jumping back in. Not bad, considering the company raised just $7.2 million back in April 2025. That's a serious step up in confidence. ### Why This Round Matters More Than You Think Ryft isn't just another payments company trying to grab a slice of the merchant processing pie. They're building something different: payment infrastructure for multi-party transactions. Think marketplaces, platforms, franchises, and yes, eventually AI agents. Here's the thing. Most payment systems were designed for a two-party world. You buy something, a merchant gets paid. Simple. But modern commerce doesn't work like that anymore. Marketplaces need to split payments between sellers, platforms, and themselves. Franchises need to route funds to multiple locations. Creators need instant payouts from platforms that host their work. That's where Ryft comes in. ### The Numbers Behind the Noise Ryft has tripled its processing volume over the past 12 months. More than 6,500 businesses now use their system, including names like Epos Now, Daytrip, and the Disasters Emergency Committee. They've partnered with heavyweights like Visa, Mastercard, American Express, and Global Payments. And they're just getting started. Sadra Hosseini, Ryft's CEO and co-founder, put it plainly: "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." That's not just startup bravado. The numbers back it up. ### The Bigger Picture: European Payments Are Heating Up Ryft's raise is part of a broader wave of investment in European payment infrastructure this year. We're talking roughly $245 million in relevant rounds so far, including: - $94 million for London-based Primer - $90 million for British payments company Sokin - $40 million for Amsterdam's Silverflow - $13 million for Klearly Plus earlier-stage rounds for SolvaPay, Ralio, and paymove. The UK is clearly punching above its weight here, with Primer, Sokin, and Ralio all based in Britain. Economic Secretary to the Treasury Lucy Rigby called Ryft's success "a vote of confidence in Manchester's thriving fintech sector." She's not wrong. It shows British businesses can start, scale, and compete globally. ### What's Next for Ryft The new funding will fuel expansion across Europe and the US. Ryft has already applied for a full EU license from the Malta Financial Services Authority, which would let them passport their services across the entire European Economic Area. Rohit Mathur, Partner at Gresham House Ventures, explained why they led the round: "Modern commerce runs on platforms, from marketplaces and franchises, to creators, and, in time, AI agents. But the payments foundation beneath it was built for a two-party world that no longer exists." He added that as commerce shifts to instant, multi-party platforms, "ownership of the infrastructure rails becomes a question of national economic sovereignty, not just merchant cost." That's a big statement. But it's true. Payment infrastructure isn't just about saving a few cents per transaction anymore. It's about who controls the pipes that money flows through. ### The Bottom Line Ryft is one of the rare UK-built, FCA-regulated fintechs designed for multi-party payments from the ground up. Their best customers are compounding volumes over 100% a year. And with this fresh capital, they're ready to take on Europe and beyond. If you're building a marketplace, platform, or multi-location business, Ryft is worth watching. They might just become the payment rails your business runs on.