What does Ryft do?
Ryft is a Manchester-based, PSD2 and FCA-approved decentralized payments provider that offers automated payment solutions for marketplaces and digital platforms. The company enables embedded payments that assist platforms in monetizing transactions and processing rapid payouts to merchants and sub-merchants automatically.
How much did they raise?
The company raised £5.7M in its Series A round, which increased its total investments to £7.4M. The round was led by EdenBase with participation from GPOS Investments, British Business Bank, Pembroke VCT, Sidebyside, Ingenii VC, and strategic angel investors including executives at PayPal.
What are their plans for the money?
Ryft plans to utilize the funds to expand its operations and bolster its development efforts. This investment is expected to enhance its payments platform, drive further innovation in embedded payments, and expand its market presence within the fintech industry.
What have they achieved so far?
To date, Ryft has successfully enabled over 1,500 businesses to implement its payment solutions, facilitating rapid growth without regulatory complications. The company's solid track record is further highlighted by its established offices in both Manchester and London.
