Ryft: A New Addition to Pembroke VCT's Portfolio with $7.3 Million Series A Funding
Deal News | Apr 09, 2025 | Pembroke VCT
UK fintech startup Ryft has successfully raised $7.3 million in Series A funding aimed at international expansion. This round of funding includes support from prominent investors such as Pembroke VCT, EdenBase, and British Business Bank, among others. Ryft, founded by Sadra Hosseini and Alex Mackenzie, has developed a unique platform designed to manage multi-party payments for various sectors like marketplaces, booking apps, and food delivery services, a system they term 'commerce 2.0'. The platform's name, 'Ryft', reflects its core function of payment splitting, which is essential for modern commerce where multiple stakeholders are involved. The company profits through transaction fees and white-labeling agreements with acquirers. With plans to enter the EU and US markets, Ryft is set to enhance its team and scale operations, marking a significant step forward for the company.
Sectors
- Financial Technology (FinTech)
- Venture Capital
Geography
- United Kingdom – Ryft is based in London and Manchester, influencing its initial market and operational base.
- European Union – The planned expansion into the EU is cited as a major strategic goal for Ryft.
- United States – Ryft intends to enter the US market in the third quarter, indicating a significant geographical expansion.
- Denmark – Ryft's partnership with Denmark's Clearhaus illustrates connections and operations in the Danish market.
Industry
- Financial Technology (FinTech) – As a fintech startup, Ryft operates within the Financial Technology industry, providing innovative solutions for multi-party payment processing.
- Venture Capital – Venture Capital industry is relevant due to Pembroke VCT and other investors participating in Ryft's funding round.
Financials
- $7.3 million – The amount raised in Ryft's Series A funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ryft | Target Company | Companies | A UK fintech startup focused on providing multi-party payment solutions. |
| Pembroke VCT | Investor | PE Firm | A venture capital trust participating in Ryft's Series A funding round. |
| EdenBase | Lead Investor | Companies | Lead investor in Ryft's Series A funding round. |
| GPOS Investments | Investor | Companies | Participant in Ryft's Series A funding round. |
| British Business Bank | Investor | Government | Government-backed investor participating in Ryft's Series A funding. |
| SidebySide | Investor | Companies | Participant in Ryft's Series A funding round. |
| Ingenii VC | Investor | VC Firm | Venture capital company participating in Ryft's Series A funding round. |
| Victorum | Investor | Companies | US-based investor in Ryft's Series A funding round. |
| PayPal Executives | Individual Investors | People | Executives from PayPal participating as investors in Ryft's Series A funding round. |
| Clearhaus | Partner | Companies | Denmark's second-largest acquiring bank partnered with Ryft. |
| Sadra Hosseini | Co-Founder & CEO | People | Co-founder and CEO of Ryft, providing strategic direction for growth. |
| Alex Mackenzie | Co-Founder | People | Co-founder of Ryft, involved in establishing the company. |