Payments platform Ryft has secured its UK Financial Conduct Authority (FCA) licence.
IN BRIEF:
Ryft raised a £1.2m seed round in August 2022
Ryft processes payments and automatically diverts funds to merchants and sub-merchants the next working day
They will now be able to expand their in-house compliance team, with Grant Campbell appointed new head of compliance and money laundering reporting officer. According to Ryft, this means they will be able to facilitate more complex payments
What does this mean?
“[The FCA licence] furthers our ability to provide support to marketplaces and merchants in the industry,” Ryft co-founder and CEO Sadra Hosseini said. “Ryft was created to handle everything so your business doesn’t have to.”
