UK fintech Ryft raises €23 million to expand across Europe

Manchester-based payments technology company Ryft has secured €23 million (£20 million) in a Series B funding round led by Gresham House Ventures, with participation from existing investors Pembroke VCT and Ingenii Capital. This marks the company's second funding round, following a €6.6 million raise in April 2025.

Ryft's CEO and co-founder Sadra Hosseini said the new investment will allow the company to bring what it has built in the UK into new European markets and compete globally, offering businesses an alternative in a sector long dominated by a small number of major players.

Expansion into Europe

As part of its European expansion, Ryft has applied for a full EU licence from the Malta Financial Services Authority. Once granted, this would allow the company to passport its services across the entire European Economic Area.

Founded in 2021 by Alex Mackenzie, Richard Kirby and Sadra Hosseini, Ryft builds payment solutions for marketplaces, platforms and multi-location businesses, covering seller onboarding, recurring billing, automated split payments and cross-border payouts through a single integration. The company has partnered with Global Payments, Visa, Mastercard, American Express and Nuvei. According to Ryft, its processing volume has tripled over the past 12 months, and more than 6,500 businesses now use its platform, including Epos Now and Sprive.

The new funding will support Ryft's expansion into Europe and the US, along with further product development. Lucy Rigby, the UK's Economic Secretary to the Treasury, said Ryft's success reflects the strength of Manchester's fintech sector and shows how British businesses can scale and compete internationally.

Ryft's raise comes amid a broader wave of investment in European payments infrastructure in 2026, with other companies including London's Primer and Amsterdam's Silverflow also securing significant funding this year.