London-based payments infrastructure firm Primer has closed a $100m (£75m) Series C funding round as it continues to build the AI-enabled operating layer for global payments and finance.
Primer offers customers unified infrastructure for global payments. For finance and payments teams, the single platform strives to reduce complexity, improve performance and capture more revenue.
The oversubscribed funding round was led by Sofina with participation from Peak XV Partners, in addition to continued backing from all existing investors including Balderton, Accel, ICONIQ, Tencent and Speedinvest.
The firm will use this funding to accelerate Primer’s investment in AI for payments and finance teams and to drive its expansion in the US, where it plans to grow revenue to more than a third of total revenue by 2028. It will also hire up to 50 roles in the region to support this expansion.
“In the next few years, every payment decision in a large business will be initiated, optimised or audited by AI. That shift is already underway,” said Gabriel Le Roux, CEO and co-founder of Primer.
“The question is whether the data those systems run on is complete because when you deploy agents across fragmented data, they don’t just underperform, they make the wrong decision. That’s why the next era of payments can only be built on complete, contextual intelligence and that’s what Primer delivers.”
Primer works with brands including GetYourGuide, Dialpad and Printful.
