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UK payments startup Ryft wins FCA licence

Ryft, a UK startup hoping to emulate the success of Stripe, has received an FCA licence following its £1.2 million seed raise in September.

UK payments startup Ryft wins FCA licence

Ryft, a UK startup hoping to emulate the success of Stripe, has received an FCA licence following its £1.2 million seed raise in September.

Ryft has closed a seed round of funding that brings the total raised by the fintech startup to £1.2m for its automated next-day merchant payments system.

The Ryft seed round was led by SFC Capital, with further investment coming from the ex-founder of Shutterstock and the founder of LoveFilm.

When it comes to payments for marketplaces, there are a variety of options to choose from. So, how do you decide which payment method is right for your business?

PSD2 (second Payment Services Directive) , a new European law, has introduced major changes that significantly impact marketplaces operating in Europe. These businesses can no longer rely on the licensing exemptions that were in place before PSD2.