Ryft, a UK-based payment services provider (PSP), has raised £20m ($26.74m) in a Series B funding round led by asset manager Gresham House.
Existing investors Pembroke VCT and Ingenii Capital also participated, while PXN Ventures joined as a new backer through Northern Powerhouse Investment Fund (NPIF II).
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In a short statement, Ryft said the funding will be used to support its expansion into Europe and the US.
The company also described the transaction as the “largest UK payments Series B in 2026”. However, it did not disclose its valuation following the round.
As part of its European growth plans, Ryft has applied for a full EU licence from the Malta Financial Services Authority. If granted, the licence would allow the company to passport services across the European Economic Area.
The PSP further added it plans to increase adoption of its platform among “high-growth and enterprise businesses”.
Ryft 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.”
According to its website, Ryft provides embedded payments for marketplaces, platforms and retailers. Its product set includes card acceptance, recurring billing, automated split payments, seller onboarding, escrow services and tools aimed at helping businesses generate revenue from processed transactions.
The company said more than 6,500 businesses use the platform, including Epos Now, Chaiwalla, the Disasters Emergency Committee, Daytrip and Sprive.
Since its founding in 2021, the company has formed partnerships with Global Payments, Visa, Mastercard, American Express and Nuvei.
Earlier this month, Ryft added FX conversion and payout capabilities in more than 35 currencies. The update is designed to let UK and European merchants convert, settle and pay out cross-border from a single platform without using a separate FX provider.
