About Ryft

It all starts with Butlr; Richard, Alex and Sadra create marketplace app Butlr to solve mobile ordering and payments for venues and restaurants. The three founders quickly realised that their reliance on external payment processors, such as Checkout.com, were limiting their ability to fully monetize transactions and grow.

Butlr scales to 1 million users and becomes an essential app for contactless operations during covid. They initially went with Stripe to meet PSD2 compliance, but Stripe’s fees were too high to scale with and other providers were either too complex and resource-intensive or lacked the necessary vertical specialisation. That’s when Ryft was born.

OrderPay acquires Butlr and the three founders start Ryft, the payment provider they wished they had with Butlr; the team goes live with their first client in November.

Ryft secures FCA license and begins building its compliance team to start handling larger, more complex payment needs and enable marketplaces and platforms to monetise their transactions.

SFC leads a £1.7 million seed round to accelerate Ryft's mission of solving marketplace payment challenges through automated split payments, competitive pricing, and dedicated support that generic processors don't offer.

Ryft secures banking partnerships with American Express, Clearhaus and Worldpay to expand available payment methods, deliver seamless payment experiences and revolutionise monetisation strategies.

Edenbase leads a £5 million Series A. Ryft grows the engineering, sales and marketing teams while opening new offices for European expansion to continue empowering digital platforms and marketplaces to become payment processors and reduce market reliance on a few large incumbents, like Stripe.