US investment firm ICONIQ Growth led the latest round, accompanied by cash injections from existing investors including
Founded in early 2020 by ex-
Examples of Primer’s ecommerce clients include flower delivery company Freddie’s Flowers, and wine vendor Vino75.
Co-founder Le Roux stresses that Primer is “not a payments company”, but instead is the first company to provide an underlying infrastructure so that merchants can use one single payments programme interface, known as an API, to onboard several PSPs.
“While at
“Large merchants wanted to give customers several PSP options, as well as using accounting software, open banking, rewards systems etc. But this was too complex for them as there was no underlying infrastructure to support this.”
It’s been dubbed a “no code” startup, as it enables e-commerce companies to completely avoid the complex back end processes needed to add multiple payment options, and gives them the ability to simply click on Primer’s “workflow” dashboard to integrate a new one.
So far, dozens of the payments services vying for
And although its platform may increase competition amongst these services by pinning them against each other at one site’s checkout, Le Roux says Primer is “payments agnostic” and “completely open to new providers” in the future.
Primer’s fully remote team currently stands at 70 employees across 20 countries, including in the
Unlike the PSPs its platform supports, Primer does not provide payments itself, and therefore bypasses financial regulation – making it easier for the company to scale across multiple geographies with varying regulatory approaches to payments disruptors.
“The challenges faced by merchants are the same across the world,” Le Roux says.
While the
And as the likes of
This is good news for the new product pipeline, engineering investments, growing headcount and payments partnerships it intends to use the latest funds to roll out over the next few months.
“Online payments are only growing – it’s only going one way,” Le Roux says.
The post Primer rides the online payments wave to a
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