Primer, a UK-based fintech startup, has raised £14 million through its Series A funding round, which was led by Accel. The investment round comes just a little over six months after Primer secured £3.2 million through its seed funding round, led by Balderton Capital.
As previously reported, Primer consolidates payments stack with a unified API and supercharges your checkout with data-driven insights. The company is currently building out a payments API to bring “greater transparency” to a merchant’s payment stack. The company further noted that it aims to reduce friction when adopting new payment methods as they come to market. Primer is also providing merchants with a single payment integration that manages the front-end checkout process and backend consolidation of payments services, including not just PSPs but also fraud providers and other third-party services in the future.
At the time of the Seedrs round, Paul Anthony, Primer Co-Founder and former Head of Solutions for EMEA at PayPal owned BrainTree, revealed:
“Primer centrally stores payment information, making recurring cross-processor transactions seamless. Our reporting and analytics enables merchants to see all transactions in one place, and we’re working closely with merchant finance teams in order to meet their requirements and stop them needing to log in to multiple PSP dashboards, which they literally do every day!”
According to TechCrunch, participants of the Series A included Balderton, SpeedInvest and Seedcamp. Sonali De Rycker, partner at Accel, will join Primer’s board.