UK FinTech Primer secures £14 mn in Series A round led by Accel
By Megha Bhattacharya
Online checkout API provider Primer today announced that it has secured £14 million in a Series A funding round led by Accel. The round also saw the participation of existing investors such as Balderton, SpeedInvest, Seedcamp and RTP Global. The FinTech will use the funding to accelerate business development efforts and scale its remote-first product and engineering organisation.
Sonali De Rycker, Partner at Accel, will join Primer’s board. She added, “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. We’ve been enormously impressed with Paul and Gabriel. They have the payments experience and network to bring a distinctive and disruptive product to market. We’re excited to be supporting them and the wider Primer team.”
Primer enables e-commerce merchants and online payments facilitators to connect and maintain their entire payments ecosystem through a unified payments API and checkout. These connections can include payment service providers (PSPs), payment methods, fraud providers, chargeback services, subscription billing engines, BI tools, loyalty and rewards platforms. The company was founded by ex-PayPal employees Paul Anthony and Gabriel Le Roux.
Primer co-founder, and Head of Product and Engineering, Paul Anthony added, “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. 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. We’re delighted to be working with Sonali and the wider Accel team to go to market internationally, and achieve our longer-term technology vision sooner.”
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