Manchester-based fintech Ryft has secured £20 million in a Series B funding round. The investment was led by Gresham House Ventures, with continued support from existing backers Pembroke VCT and Ingenii Capital. The company identifies this transaction as the largest Series B round in the UK payments sector for 2026.
The capital injection arrives during a period of reduced investment activity in the UK fintech market. According to KPMG, total funding in the first half of 2026 fell to £1.8 billion, compared to £5 billion in the same period last year. The number of deals also declined to 205, marking the lowest level in a decade.
Ryft, founded in 2021 by Sadra Hosseini, Alex Mackenzie, and Richard Kirby, provides payment infrastructure for marketplaces and platforms. The company reports that its processing volume tripled over the past year, with a client base exceeding 6,500 businesses, including Epos Now and Chaiiwala.
The startup intends to utilize the new funds to expand its operations into the United States and Europe. Ryft has already submitted an application for a full license to the Malta Financial Services Authority, which would enable the provision of services across the European Economic Area.
