UK FinTech startup Ryft secures €23 million to accelerate European expansion

Manchester-based fintech startup Ryft has successfully raised €23 million in a Series B round of funding, marking a significant step in its ambitious European expansion plans. The investment was led by Gresham House Ventures, with support from existing investors Pembroke VCT and Ingenii Capital. This follows Ryft's €6.6 million Series A round in April 2025, as previously reported by EU-Startups.

CEO and co-founder Sadra Hosseini expressed enthusiasm about the new funding, stating that the company will leverage the capital to expand its UK-based operations into new European markets and compete on a global scale. The payments industry has long been dominated by a few key players, and Ryft aims to provide a more efficient and powerful alternative to businesses worldwide.

The company's innovative payment solutions help marketplaces, platforms, and multi-location businesses manage complex transaction flows, including recurring billing, automated split payments, and cross-border payouts through a single integration.

This €23 million round comes amid a wave of investment in European payments infrastructure in 2026, with EU-Startups reporting approximately €224.8 million in relevant funding rounds across the year. Notable investments include €86.2 million for London-based Primer, €83 million for British payments company Sokin, €37 million for Amsterdam's Silverflow, and €12 million for Klearly.

The UK has played a significant role in these developments, with several other large announcements tied to the country, including Primer, Sokin, and Ralio.

Economic Secretary to the Treasury Lucy Rigby praised Ryft's success, emphasizing that it serves as a vote of confidence in Manchester's thriving fintech sector and demonstrates how British businesses can compete globally. The government is actively supporting industries and companies like Ryft, which are creating jobs, attracting investment, and driving growth across the country.

Ryft was founded in 2021 by Alex Mackenzie, Richard Kirby, and Sadra Hosseini. The company's payment solutions cater to marketplaces, platforms, and multi-location businesses, streamlining seller onboarding and complex transaction flows, such as recurring billing, automated split payments, and cross-border payouts. Since its launch, Ryft has partnered with major players like Global Payments, Visa, Mastercard, American Express, and Nuvei, and has processed transactions for over 6,500 businesses, including Epos Now, Chaiwalla, the Disasters Emergency Committee, Daytrip, and Sprive.

The company's recent investment will support Ryft's expansion across Europe and the US, while accelerating product development and moving upmarket. Gresham House Ventures, led by Rohit Mathur, highlighted the importance of Ryft's role in shaping modern commerce, which now runs on platforms built for multi-party interactions rather than the traditional two-party model.

Ryft is seen as a UK-built, FCA-regulated fintech designed for the next era of commerce, with the potential to influence national economic sovereignty through its innovative payment infrastructure. The company's leadership team is praised for executing at an impressive pace, and Mathur expressed pride in backing this category-defining Manchester fintech.