Ryft Secures £5.7M Series A Funding for Expansion
In today's fast-evolving fintech landscape, securing funding is crucial for startups aiming to innovate and expand. One such standout is Ryft, a Manchester-based decentralized payments provider that recently swept the fundraising scene with a remarkable £5.7M in Series A investment. This successful round, led by EdenBase and supported by strategic partners such as GPOS Investments, British Business Bank, Pembroke VCT, Sidebyside, and Ingenii VC, has boosted Ryft's total funding to a significant £7.4M.
Founded by visionary entrepreneurs Sadra Hosseini and Alex Mackenzie, Ryft is reshaping the payments landscape by offering PSD2-compliant automated solutions tailored for marketplaces and digital platforms.
With its innovative approach, Ryft allows businesses to incorporate embedded payments, enabling them to monetize transactions seamlessly while facilitating rapid payouts to merchants and sub-merchants. Over 1,500 businesses have already harnessed Ryft's capabilities, proving that the company's services can drive rapid growth while effortlessly navigating regulatory complexities.
Looking forward, Ryft plans to utilize its recent funding boost to expand operations and accelerate development. The combination of experienced investors and strategic angel involvement—such as executives from PayPal—positions Ryft for accelerated success in the competitive fintech space. With both London and Manchester offices, Ryft stands at the forefront of payment innovation, making it an exciting prospect for investors seeking promising opportunities in the world of financing.
Key Terms Explained
- Securing funding
- This refers to the process of gathering financial support for a startup. It can come from a variety of sources that include angel investors, venture capitalists, crowdfunding, and personal funds. Securing funding is critical for startups to grow, innovate and maintain operations.
- Series A investment
- The first round of financing given to a new business once seed capital has been used. This kind of investment is intended to capitalize the business for the next level of development which may include product development or market expansion.
- PSD2-compliant automated solutions
- These are tools or services that comply with the Revised Payment Service Directive (PSD2), a European regulation for electronic payment services. They aim to make payments safer, increase consumer protection, foster innovation and competition, and provide secure open standards of communication.
Frequently Asked Questions
- How much funding has the fintech startup Ryft received in total?-Ryft has secured a total funding amount of £7.4M.
- What was the amount raised by Ryft in its Series A investment?+
- Who are the main strategic partners involved in Ryft's recent funding round?+
- What kind of services does Ryft offer that could attract potential investors?+
- How does Ryft plan to use its latest funding?+
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