logo
logo

Stripe Rival Ryft Raises £1.2M For Merchant Payment System

Stripe Rival Ryft Raises £1.2M For Merchant Payment System

09/01/22, 8:02 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/CA.svglondon
Money raised
£1.2 million
Industry
payments
lending
marketplace
fintech
financial services
e commerce
Round Type
seed
Ryft has closed a seed round of funding that brings the total raised by the fintech startup to £1.2m for its automated next-day merchant payments system.

Company Info

Company
Ryft
Location
london, ontario, canada
Additional Info
The Ryft seed round was led by SFC Capital, with further investment coming from the ex-founder of Shutterstock and the founder of LoveFilm.The London-based company’s payment solution integrates into an online marketplace and accepts payments from all major cards, along with Google and Apple Pay.The company competes with the likes of Stripe Connect, the marketplace payments integration created by Irish-American fintech giant Stripe. Ryft claims that its solution comes “without the high fees and lengthy payout wait times”, with merchants receiving funds the next working day and Ryft charging a flat fee for each transaction. Ryft was founded by Sadra Hosseini and Alex Mackenzie.

Related People