Ryft secures £20m Series B to fuel European expansion

Manchester payments platform Ryft has raised a £20 million Series B, led by Gresham House. Existing investors Pembroke VCT and Ingenii Capital took part, joined by new investor PXN Ventures via NPIF II (Northern Powerhouse Investment Fund). This raise is the largest UK payments Series B of 2026.

The round follows a year in which Ryft tripled its processing volume. More than 6,500 businesses now use its platform, including Epos Now, Chaiwalla, the Disasters Emergency Committee, Daytrip and Sprive. The investment will fund Ryft's expansion into Europe and the US, and accelerate adoption among high growth and enterprise businesses.

As part of its European push, Ryft has applied for a full EU licence from the Malta Financial Services Authority. If granted, this would let Ryft passport its services across the European Economic Area.

Ryft was founded in 2021 by Sadra Hosseini, Alex Mackenzie and Richard Kirby. The company has since partnered with Global Payments, Visa, Mastercard, American Express and Nuvei.

Ryft's chief executive and co-founder, Sadra Hosseini, said:

"This round 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, and we want to provide a powerful alternative to businesses globally."

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Read the full press release here.

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