Ryft secures seed round led by SFC Capital
By Leandra Monteiro
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.
Sadra Hosseini, CEO and Founder of Ryft said, “We are both incredibly excited to be working with SFC Capital to further our ability to provide seamless support to marketplaces and merchants within the industry and continue to solve the current problems associated with complex money routines under PSD2 regulation. Ryft was created to handle everything so your business doesn’t have to.”
The Ryft solution processes payments and then automatically diverts funds to merchants and sub-merchants (minus any commissions) the next working day. 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.
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.
Ed Stevenson, Investment Manager at SFC Capital said, “We are excited to work with Ryft in supporting marketplace businesses with a unified payment platform designed to power B2B platforms and provide a seamless experience for merchants and marketplaces. Following the success of their first business, Sadra and Alex have put together the essential aspects to solve the pain points experienced in the business payment platform landscape.”
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