UK Payment Provider Ryft Secures £20M to Enter Europe and US Markets

UK payment services provider Ryft closed a £20 million (approximately $26.74 million) Series B funding round led by asset manager Gresham House.

Pembroke VCT and Ingenii Capital returned as existing backers, while PXN Ventures joined for the first time through the Northern Powerhouse Investment Fund II.

Ryft described the deal as the largest UK payments Series B in 2026, though it did not share its post-money valuation.

The capital will back Ryft's move into European and US markets, the company said.

Ryft has submitted an application for a full EU licence with the Malta Financial Services Authority. Approval would enable it to passport services throughout the European Economic Area under a single regulatory framework.

The firm also intends to grow adoption of its platform among high-growth and enterprise businesses.

This round means we can take what we've built in the UK into new European markets and compete on the global stage

Chief executive and co-founder Sadra Hosseini said the payments industry has long been controlled by a handful of incumbents, and Ryft aims to offer businesses worldwide a robust alternative.

Ryft offers embedded payment infrastructure for marketplaces, platforms and retailers. Its feature set spans card acceptance, recurring billing, automated split payments, seller onboarding, escrow services and tools designed to help businesses monetise processed transactions.

More than 6,500 businesses use the platform, including Epos Now, Chaiwalla, the Disasters Emergency Committee, Daytrip and Sprive.

Earlier this month, Ryft rolled out FX conversion and payout functionality across more than 35 currencies, allowing UK and European merchants to convert, settle and distribute cross-border payments from a single platform without relying on a separate FX provider.

Founded in 2021, Ryft has established partnerships with Global Payments, Visa, Mastercard, American Express and Nuvei.

The company has built its network of card scheme and processor relationships to support its embedded-payments model and international ambitions.