Ryft Just Raised $25M—Here's What It Means for European Payments

Jan de Vries · 2026-09-17

Manchester-based payments company Ryft has just closed a €23 million ($25 million) Series B round. That's a big number for a company founded only in 2021. But what's really interesting isn't the amount—it's what this says about where European payments infrastructure is heading. The round was led by Gresham House Ventures, with existing investors Pembroke VCT and Ingenii Capital chipping in again. This comes on the heels of a €6.6 million ($7.2 million) Series A back in April 2025. So yeah, they're moving fast. ### Why This Round Matters Ryft's CEO and co-founder, Sadra Hosseini, put it plainly: "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." He added that payments have been dominated by a handful of incumbents for way too long, and businesses deserve a more efficient alternative. That's not just founder talk. The numbers back it up. According to the company, Ryft has tripled its processing volume over the past 12 months. More than 6,500 businesses now use its platform, including names like Epos Now, Chaiwalla, and the Disasters Emergency Committee. ### A Broader Trend in European Payments Ryft isn't alone here. European payments infrastructure has been attracting serious capital in 2026. So far this year, there's been roughly €224.8 million ($245 million) in relevant rounds. That includes: - €86.2 million ($94 million) for London-based Primer - €83 million ($90 million) for British payments company Sokin - €37 million ($40 million) for Amsterdam's Silverflow - €12 million ($13 million) for Klearly Plus earlier-stage rounds for SolvaPay, Ralio, and paymove. The UK is clearly punching above its weight, with Primer, Sokin, and Ralio all based there—same as Ryft. Economic Secretary to the Treasury Lucy Rigby called Ryft's success "a vote of confidence in Manchester's thriving FinTech sector." She noted that the government is backing companies like Ryft that are "creating jobs, attracting investment and driving good growth in every postcode." ### What Ryft Actually Does Founded in 2021 by Alex Mackenzie, Richard Kirby, and Sadra Hosseini, Ryft builds payment solutions for marketplaces, platforms, and multi-location businesses. Think seller onboarding, complex transaction flows, recurring billing, automated split payments, and cross-border payouts—all through a single integration. Since launch, they've partnered with heavyweights like Global Payments, Visa, Mastercard, American Express, and Nuvei. That's not a bad lineup for a four-year-old company. 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 Ryft is "the rare UK-built, FCA-regulated FinTech designed for multi-party payments from the ground up." And their best customers are compounding volumes over 100% a year on the platform. ### The Road Ahead So what's next? The investment will fuel Ryft's expansion across Europe and the US, while accelerating product development and moving upmarket. As part of its European push, Ryft has applied for a full EU license from the Malta Financial Services Authority (MFSA). Once approved, they'll be able to passport their services across the European Economic Area. Mathur framed it as a matter of national economic sovereignty, not just merchant cost. "As commerce shifts to instant, multi-party platforms and increasingly agent-initiated payments, ownership of the infrastructure rails becomes a question of national economic sovereignty," he said. "We're backing Ryft because the UK needs domestic champions with payment architecture for the next era of commerce." That's a bold vision. But if the numbers hold up, Ryft might just be one of those champions. For European startups watching the incorporation and scaling landscape, this is one to keep an eye on.