Primer raises £14m to support merchant payments

Primer, a payment consolidation and checkout API technology provider, has raised £14 million Series A funding in a round led by Accel.

Existing investors Balderton, SpeedInvest and Seedcamp participated in the funding round and were also joined by RTP Global.

The investment brings Primer’s total funding to £17.8 million, coming weeks after the initial launch of the company’s platform, and ten months since the company’s founding.

Primer says it will use the funds to expand business development efforts internationally and to scale its remote-first product and engineering organisation.

Primer enables e-commerce merchants and online payment facilitators to connect and maintains merchants' entire payment ecosystems through a unified API and checkout. Connections can include payment service providers (PSPs), payment methods, fraud mitigation providers, chargeback services, subscription billing engines, BI tools and loyalty and rewards platforms.

Primer was founded by ex-PayPal employees Paul Anthony and Gabriel Le Roux in January this year.

Anthony said: “During our time at PayPal we saw first-hand the technical burden online merchants face trying to offer the best payment experiences to their customers globally.

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

Sonali De Rycker, a partner at Accel, will join Primer’s board following the round. She said: “Primer’s platform addresses a multitude of issues that merchants have to solve as they grow their business in today’s fragments payments world.

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

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