Manchester FinTech Ryft secures £20m Series B to fuel global expansion

The investment brings Ryft’s total funding to approximately £27 million. To support its growth across the European Economic Area, the company has formally applied for a license from the Malta Financial Services Authority. This regulatory milestone aims to enable the seamless passporting of its services throughout the bloc.

Founded in 2021 by Sadra Hosseini, Alex Mackenzie, and Richard Kirby, the company provides automated split payments and recurring billing for over 6,500 businesses, including Epos Now and the Disasters Emergency Committee. Rohit Mathur, Partner at Gresham House Ventures, noted that the platform’s focus on multi-party transactions addresses a structural gap left by traditional incumbents. With existing backers Pembroke VCT and Ingenii Capital also participating, Ryft intends to utilize the new capital to scale its product development and move into the enterprise segment.