Primer’s Ambitious Expansion in the Payments Sector
In a remarkable funding achievement, Primer, a London-based fintech company, has successfully raised $100 million in an oversubscribed Series C round. This funding round, led by Sofina, a Belgian investment group, brings Primer’s total capital raised to an impressive $170 million.
Revolutionizing Payments with AI
Founded in 2020 by former Braintree alumni Gabriel Le Roux and Paul Anthony, Primer aims to redefine the payments landscape with its innovative platform that integrates the entire transaction lifecycle—from checkout to payout. By consolidating various processors, acquirers, and fraud tools, Primer’s solution addresses the complexities faced by large merchants in managing payments.
Le Roux emphasizes that the future of payments lies in AI, stating, “In the next few years, every payment decision in a large business will be initiated, optimized, or audited by AI. That shift is already underway.” The company’s Primer Companion, an AI agent launched in late 2025, exemplifies this vision by autonomously optimizing payment processes for merchants.
Strategic Growth in the US Market
With the latest funding, Primer is strategically focusing on expanding its presence in the United States, targeting a significant increase in revenue from this key market, which currently contributes roughly 20% of its total income. The company aims to boost this figure to over one-third by 2028, planning to hire up to 50 new employees in the US to facilitate this growth.
“The US is the world’s largest payments market, and we are well-equipped to tackle the challenges that merchants face,” said Le Roux. The company already processes billions of transactions annually for reputable brands such as GetYourGuide, Dialpad, and Lime.
Investor Confidence and Market Outlook
The oversubscription of this funding round signals strong investor confidence in Primer’s potential to transform the payments infrastructure landscape. Aakash Kapoor from Peak XV Partners highlighted the importance of Primer’s comprehensive data management capabilities, which offer global enterprises a clear view of their payment operations.
As the payments industry approaches a pivotal turning point, with AI becoming increasingly central to transaction decision-making, Primer is poised to lead the way in redefining how businesses manage their payment processes.
Related
