Ryft Raises €23 Million to Scale Payments Technology Across Europe

The funding round was led by Gresham House Ventures, with existing investors Pembroke VCT and Ingenii Capital also taking part.

Ryft plans to use the new funding to support its growth and expand its payments technology across European markets.

Speaking on the raise, Ryft’s CEO and co-founder, Sadra Hosseini says: “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.”

Economic Secretary to the Treasury Lucy Rigby adds: “Ryft’s success is a vote of confidence in Manchester’s thriving FinTech sector and shows how British businesses can start, scale and compete on the global stage. This Government is backing the industries and companies like Ryft that are creating jobs, attracting investment and driving good growth in every postcode.”

Rohit Mathur, Partner at Gresham House Ventures, which led the round, says: “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. Ryft is the rare UK-built, FCA-regulated FinTech designed for multi-party payments from the ground up, and its best customers are compounding volumes over 100% a year on the platform.

“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, not just merchant cost. We’re backing Ryft because the UK needs domestic champions with payment architecture for the next era of commerce, and Ryft is one of them. Sadra, Alex, Richard and the wider team are executing at an impressive pace, and we are proud to back this category-defining Manchester FinTech!”

Founded in 2021 by Alex Mackenzie, Richard Kirby and Sadra Hosseini, Ryft develops payment solutions for marketplaces, online platforms and businesses operating across multiple locations.

Its platform helps companies manage seller onboarding and complex payments through a single integration. This includes recurring billing, automated split payments and cross-border payouts.