Payment consolidator Primer follows up launch with £14m funding

By Oliver Smith on Monday 30 November 2020

Digital Banking

Just 10 months after the fintech was founded.

Payment consolidator Primer follows up launch with £14m funding
Image source: Primer.

With so many payment providers, from Apple Pay to Adyen, it’s not always easy to pick the right one.

Enter Primer, an online checkout provider which lets retailers pick the payment providers they want and even switch providers based on how much a shopper is spending or which country they’re paying from.

Today Primer announced its £14m Series A funding round led by Accel, just six months after its £3.2m seed round from Balderton and only 10 months after the fintech was founded.

Primer was started by ex-PayPal duo Paul Anthony and Gabriel Le Roux in January, and who have gone on to hire now 23 employees.

“During our time at PayPal, we saw first-hand the technical burden online merchants face trying to offer the best payments experiences to their customers globally,” said Anthony, who is also Primer’s head of product and engineering.

“Our low-code approach enables merchants’ payments teams to manage and expand their payments ecosystems, and maintain sophisticated payments logic with a familiar workflow UI.”

Primer’s existing investors Balderton, SpeedInvest and Seedcamp also took part in the round, along with new investor RTP Global.

As part of this latest funding Accel partner Sonali De Rycker will join Primer’s board.

“Primer’s platform addresses a multitude of issues that merchants have to solve as they grow their business in today’s fragments payments world,” said Rycker on her appointment.

“The massive acceleration in cross-border commerce as a result of the pandemic has only further highlighted this need.”

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