£20m · Series B · Fintech · Manchester, UK
Ryft has raised a £20m Series B led by Gresham House Ventures, with backing from existing investors Pembroke VCT and Ingenii Capital and new investor PXN Ventures through the Northern Powerhouse Investment Fund II. The Manchester payments company will use the funding to expand across Europe and the US and win larger platform customers.
Multi-party commerce needs native payment flows
Marketplaces, franchises and software platforms often need to divide one customer payment among several sellers or locations. Generic acquiring leaves the platform to manage reconciliation, payouts and compliance itself. Ryft embeds split payments and cross-border payouts into the transaction flow, reducing that operational burden for businesses with multiple beneficiaries.
Ryft says processing volume tripled over the past year and more than 6,500 businesses use its platform. The expansion case now depends on licences, acquiring relationships and enterprise integrations: the company has applied for an EU licence in Malta while building its US presence. Larger customer volumes can justify the integration effort, but execution across regulatory regimes will determine whether UK traction becomes durable international reach.
Sources checked: Ryft company announcement; Sky News; Tech.eu Funding Explorer.
