Manchester-based payments company Ryft has secured a €23 million (£20 million) Series B funding round led by Gresham House Ventures. Existing investors Pembroke VCT and Ingenii Capital participated, while new investor PXN Ventures joined through NPIF II. The round is described as the largest UK payments Series B of 2026 and will support Ryft’s expansion across Europe and the United States.
A Landmark Round for UK Payments
The investment arrives amid continued momentum in European payments infrastructure and a wider push to strengthen sovereign payment capabilities. In 2026, EU-Startups has tracked approximately €224.8 million in relevant funding rounds, including announcements from Primer, Sokin, Silverflow, and Klearly. Ryft’s Series B contributes to this wave and reinforces the UK’s position as a hub for payment innovation.
Government Backing and Regional Confidence
Economic Secretary to the Treasury Lucy Rigby said Ryft’s success is a vote of confidence in Manchester’s thriving fintech sector. She added that the company demonstrates how British businesses can start, scale, and compete on the global stage. The UK government is backing industries and companies that create jobs, attract investment, and drive growth across every region.
Commercial Growth and Partnerships
Ryft builds payment solutions for marketplaces, platforms, and multi-location businesses, handling seller onboarding and complex transaction flows through a single integration. The technology supports recurring billing, automated split payments, and cross-border payouts. Over the past twelve months, the company has tripled its processing volume and now serves more than 6,500 businesses.
Customer Traction and Industry Relationships
Customers using Ryft include Epos Now, Chaiwalla, the Disasters Emergency Committee, Daytrip, and Sprive. The company has also formed partnerships with Global Payments, Visa, Mastercard, American Express, and Nuvei, strengthening its position in the payments ecosystem. This commercial momentum has supported Ryft’s ability to attract significant Series B capital.
European Ambitions and Regulatory Progress
The new funding will accelerate Ryft’s expansion into European and US markets while supporting product development and a move upmarket. As part of its European push, the company has applied for a full EU licence from the Malta Financial Services Authority. If granted, the licence will allow Ryft to passport its services across the European Economic Area.
Investor Perspective and Founder Vision
Ryft was founded in 2021 by Sadra Hosseini, Alex Mackenzie, and Richard Kirby. Chief executive Sadra Hosseini said the investment enables the company to take what it has built in the UK into new European markets and compete globally. He noted that payments have long been dominated by a small number of incumbents and that Ryft aims to provide a powerful and efficient alternative.
Investor Confidence in Multi-Party Payments
Rohit Mathur, partner at Gresham House Ventures, said modern commerce runs on platforms, from marketplaces and franchises to creators and AI agents. He noted that the payment infrastructure underneath was built for a two-party world that no longer exists. Mathur described Ryft as a rare UK-built and FCA-regulated fintech designed for multi-party payments from the ground up.
Ryft’s Series B highlights growing investor confidence in next-generation payment infrastructure and the importance of domestic payment champions. The company’s expansion plans, regulatory progress, and strong customer growth position it to compete with established incumbents on a global scale. With this funding, Ryft is set to deepen its presence in Europe and the United States while advancing the UK’s role in modern payments.