Primer banked €92.5M ($100M) in a Series C funding round led by Sofina. The raise includes participation from Peak XV Partners along with existing investors Balderton, Accel, ICONIQ, Tencent, and Speedinvest. The London-based fintech will use the capital to accelerate its expansion into the US market and further its development of automated payment workflows.
The company provides a unified payments infrastructure that allows large e-commerce merchants to consolidate their entire payment stack. Through a single integration, businesses can connect and manage multiple providers including Stripe, WorldPay, and Klarna. This infrastructure helps retailers navigate the complexity of global payment processing and routing without building bespoke integrations for every service.
A significant portion of the fresh capital is earmarked for enhancing its AI capabilities. Primer recently launched an AI agent designed to monitor merchant payment ecosystems and suggest optimisations. The long-term goal is to allow these agents to operate autonomously, making real-time decisions on payment routing and auditing based on predefined merchant parameters.
The company enters the US market with an ambitious target to generate more than a third of its total revenue from the region by 2028. This expansion reflects a maturing European fintech sector where established infrastructure players are increasingly seeking growth through high-value enterprise contracts in North America.
Originally reported by Sifted.