Latest news with #Ryft
Yahoo
09-04-2025
- Business
- Yahoo
Fintech startup Ryft just raised $7.3 million to help marketplaces split payments. Here's its pitch deck.
Ryft just raised $7.3 million in Series A to scale its payment infrastructure platform. The startup helps financial institutions handle split transactions for booking apps and other platforms. Business Insider got an exclusive look at the 16-slide pitch deck used to close the round. UK fintech startup Ryft has raised $7.3 million in Series A funding to expand its payment-splitting platform into new markets. Founded by serial entrepreneurs Sadra Hosseini and Alex Mackenzie, Ryft provides tools for marketplaces, booking apps, and food delivery services to manage multi-party payments for what the startup calls "commerce 2.0." "Commerce 1.0 was simple — you sold a product and got paid," Sadra Hosseini, the startup's CEO, told Business Insider. "Now, in commerce 2.0, £100 might need to be split between a driver, a restaurant, and a platform." The name Ryft comes from "rift," as in a split — which Hosseini says reflects the startup's core product. The platform also handles compliance checks and real-time onboarding. Ryft makes money by charging fees on transactions processed through its infrastructure. It gives acquiring banks — financial institutions that process credit and debit card payments — and platforms the ability to add their own margin on every transaction. Ryft then gets a portion of that and also white-labels its platform to acquirers, who pay for access and usage. Ryft, which is based in London and Manchester, recently partnered with Clearhaus, Denmark's second-largest acquiring bank. It has The Series A was led by EdenBase, with participation from GPOS Investments, British Business Bank, Pembroke VCT, SidebySide, and Ingenii VC, an early backer of Starling Bank. Ryft also brought in US-based Victorum and a GP from PayPal Ventures. Hosseini said the startup is planning expansion into the EU this quarter and the US in the third quarter. "We didn't raise this to survive — we'd already broken even. This round is about scaling up," Hosseini said. "That means international growth, more hires, and launching omnichannel payments." Here's the 16-page pitch deck Ryft used to land the $7.3 million, or £5.7 million, shared exclusively with Business Insider. Read the original article on Business Insider Sign in to access your portfolio
Yahoo
25-02-2025
- Automotive
- Yahoo
Here's your chance to own this one-of-one Koenigsegg Agera RS
When you have the kind of disposable income needed to afford a Koenigsegg, you likely have the extra cash to commission a one-of-one special edition. This is the case with this one-of-one 2018 Koenigsegg Agera RS 'Phoenix," originally commissioned for well-known entrepreneur and collector Manny Khoshbin to replace his previous one-of-one Koenigsegg sets this special edition apart from the others is its fully exposed carbon fiber body, 24-carat gold accents hand-applied by Italian master craftsman Ettore Callegaro, bespoke rear wing, and a plethora of other aero parts. The cabin sports plenty of Alcantara carbon fiber trim and more gold detailing to remind you of the exterior. The dashboard also features an embroidered "Phoenix" badge in the same font as the ones on the body. Phoenix also features the optional 1-megawatt package, which increases the horsepower figure of its 5.0-liter twin-turbocharged V8 from 1,160 to 1,341. All of those horses scream through a 7-speed automatic transmission and a custom Ryft exhaust system, announcing your presence long before anyone actually sees you. You might be drooling, and so are we, but wait until you see the price tag. This Agera RS is being offered for sale by Vegas Auto Gallery for $4,999,999, so at least it's not $5 million. That's a hefty price tag, and it's likely that whoever can afford this has a few other cars like it in their garage. Manny later sold it for $4.1 million before that owner then listed it for sale through Pagani Beverly Hills for an undisclosed price. It should be noted that Manny initially wanted $5 million for it, but the value of such a unique masterpiece has likely appreciated since one thing to own a Koenigsegg Agera RS since only 27 units were ever produced, but owning a one-of-one Agera RS is an entirely different kind of flex. As one might expect, the odometer only shows 2,794 miles, so this car has not exactly been driven as much as Christian von Koenigsegg would probably want. It's likely that Phoenix will end up in the hands of a collector, and we can only cross our fingers that they will give it the road time it deserves. After all, what's the point of buying a 1,341 hp hypercar if you don't experience that kind of power semi-frequently? Love reading Autoblog? Sign up for our weekly newsletter to get exclusive articles, insider insights, and the latest updates delivered right to your inbox. Click here to sign up now!
