Ryft Raises $7.3M to Enhance Marketplace Payment Solutions
Deal News | Apr 09, 2025 | Aim Group
Ryft, a payment system company based in the UK, has raised $7.3 million in a Series A funding round led by EdenBase. This company specializes in facilitating payment systems for online marketplaces, allowing them to process payments and distribute split payouts to multiple recipients more efficiently. Founded by Sadra Hosseini and Alex Mackenzie in 2019, Ryft was born out of the founders’ experiences with complex payment systems as they built a previous venture, Butlr. The company, having previously raised $1.2 million in seed funding in 2022, now plans to use the new funds to expand its product offerings, scale internationally, and rival industry leaders like Stripe Connect and Adyen. The funding will also support platform improvements to help acquiring banks manage complex payment flows automatically. The investment round included participation from several prominent firms and angel investors, including GPOS Investments and PayPal executives. Early investor SFC Capital made a partial exit, achieving a 6.2x return. Ryft's payment systems currently serve over 1,500 businesses, reporting a substantial reduction in payment processing costs. Additionally, Ryft has become profitable and aims to further triple its gross merchandising value in the coming months while increasing its workforce.
Sectors
- Fintech
- E-commerce
Geography
- United Kingdom – Ryft is based in the UK with offices in London and Manchester, and the Series A funding aims to support global expansion from these bases.
Industry
- Fintech – Ryft operates in the financial technology sector by providing innovative payment solutions for online marketplaces, enabling streamlined transactions and payment distribution.
- E-commerce – Ryft's payment system is designed for e-commerce platforms, addressing the complex requirements for marketplace transactions and revenue sharing among different parties.
Financials
- $7.3 million – Total amount raised in Ryft's Series A funding round.
- 6.2x return – Return achieved by SFC Capital from a partial exit during the funding round.
- $1.2 million – Amount raised during Ryft's seed funding in 2022.
- Total funding of $7.4 million – The total amount of funding Ryft has received to date.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ryft | Target Company | Company | A UK-based company offering payment systems for online marketplaces to process and manage complex transactions. |
| EdenBase | Investor | Company | The lead investor for Ryft's $7.3 million Series A funding round. |
| GPOS Investments | Investor | Company | Participated in Ryft’s Series A funding round. |
| British Business Bank | Investor | Company | Participated in Ryft’s Series A funding round. |
| Pembroke VCT | Investor | Company | Participated in Ryft’s Series A funding round. |
| SidebySide | Investor | Company | Participated in Ryft’s Series A funding round. |
| Ingenii VC | Investor | Company | Participated in Ryft’s Series A funding round. |
| Strategic Angel Investors | Investor | People | Included executives from PayPal participating in Ryft’s Series A funding round. |
| SFC Capital | Early Backer | Company | An early investor in Ryft, made a partial exit during this round with a 6.2x return. |