Primer raises £3.2M Seed round to help merchants consolidate their payments stack

MAY 11, 2020

BY BALDERTON

Balderton led the round with participation from Taavet Hinrikus, co-founder of TransferWise.

The news was announced today by Steve O'Hear in TechCrunch. This follows a £600,000 pre-seed investment from Seedcamp, Speedinvest, Kima, and a number of angels.

Primer aims to help merchants consolidate their payments stack and easily support new payment methods in the future. The company was founded by Paul Anthony and Gabriel Le Roux, who met at Braintree, part of PayPal, where they worked with some of the most sophisticated payments clients in the world on their payment architecture.

Paul Anthony and Gabriel Le Roux have a uniquely strong combination of tech, product and commercial skills across startups and one of the world’s most successful payments companies.... Both are incredibly intelligent, driven, ambitious and passionate about solving the pain points in payments.

Rob Moffat, Partner, Balderton Capital

Payments is an incredibly complex sector. Merchants have increasingly complex needs from their overall payments solution, which requires them to leverage a variety of PSPs, local banking relationships, proprietary payment methods (think Klarna, GoCardless, WeChat) and other third party payments services in order to expand to new markets and offer the payments experiences their customers demand.

They're also looking to optimise for cost and authorisation rates, reduce fraud, improve user experience and adapt to macro changes in the payments landscape.

It has become increasingly complex for merchants to scale payments as they manage an ever-growing web of interdependent technical integrations across payments services.

Paul Anthony, Co-founder, Primer

The Primer team is looking for new joiners! Check out the link at the bottom of the page for current opportunities.

Fundamentally, this is an infrastructure challenge. We see ourselves as doing the work merchants would have to do themselves, but through a unified API and integration, and with sophisticated data and analytics tools to help them take control of, and supercharge their global payments strategies. We aim to remove all technical burden associated with implementing and managing payments through a best-in-class, unified payments API and checkout.

Paul Anthony, Co-founder, Primer

You can read more about this team and why we're so excited to be joining their journey in Rob Moffat's Medium post "why we invested in Primer". 

If you're interested in joining the Primer team, you can find the open positions here: https://primer.io/

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