UK-based decentralised payments platform Ryft has secured £5.7 million in Series A funding to empower acquiring banks in competing with payment giants Stripe Connect and Adyen. The round brings Ryft’s total raised to £7.4 million and was led by EdenBase, with backing from GPOS Investments, British Business Bank, Pembroke VCT, Sidebyside, and Ingenii VC.
Founded by Sadra Hosseini and Alex Mackenzie—entrepreneurs who previously built and exited a mobile ordering app for pubs—Ryft was created to address gaps in microtransactions and real-time payouts. The platform enables businesses to manage, process, and monetise payments at scale, with over 1,500 companies already onboarded.
Ryft’s pitch: lower costs, faster payouts, and improved flexibility. Customers migrating from Stripe reportedly save up to 62% on payment fees. The firm also offers acquiring banks the ability to automate payment splits and use escrow-powered delayed payments—allowing funds to be held until specific conditions are met.
“Our tech is built for Commerce 2.0, where transactions involve multiple parties,” said CEO Hosseini. “Banks are stuck in the one-to-one transaction model and can’t compete with the likes of Stripe and Adyen, who dominate despite high fees and poor support. We’re providing the tools to help them catch up.”
Ryft says it is actively exploring strategic partnerships to accelerate change across the payments ecosystem.