Ryft, the revolutionary PSD2 compliant payments system, has raised a large seed round, led by SFC Capital, the UK’s most active seed-stage investor. Additional investors include the ex-founder of Shutterstock and the founder of LoveFilm. Ryft enables automated next-day payouts for marketplace businesses and their merchants, for a single flat fee per transaction.

The Ryft solution processes payments and then automatically diverts funds to merchants and sub-merchants (minus any commissions) the next working day. Think Stripe Connect without the high fees and lengthy payout wait times. The solution is completely PSD2 compliant. Ryft’s end-to-end solution handles everything from accepting online payments, verifying and onboarding merchants, to splitting up the payments however a business wants. This is all done through easy-to-use API documentation to remove complexity and fast-track the development cycle.

The idea for Ryft came from 18-year-long best friends and co-founders Sadra Hosseini and Alex Mackenzie first business, a mobile ordering marketplace app for pubs and bars. They scaled this business up rapidly during the pandemic, reaching over a million customers and 500 active venues at their peak. They identified a gap in the market for the profitability of microtransactions and fast payouts and there Ryft was born. Many marketplaces are caught unaware of PSD2 compliance, presenting a unique opportunity to capture market share by presenting a solution that fixes this and takes the administerial headache away from finance teams.

Ryft solves the current problems in the payment marketplaces of multiple sub merchants resulting in large periods of wasted time and multiple processes across different platforms. Ryft streamlines all of these processes in a singular efficient platform, protecting employees, protecting businesses from FCA fines, ensuring anti-money laundering rules are followed and reducing the associated risks for marketplaces and their onboarding processes.

Compliant Payment System Secures Seed Round Led By Sfc Capital, Bringing Total Funding To £1.2m.Congratulations to the entire team. I wish you great success in this endeavour.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business. For any rectifications, reach out to

Exit mobile version