Payment stack consolidation startup Primer has bagged £3.2m in a seed round led by Balderton Capital, the investor behind companies like GoCardless, Revolut and Darktrace.
Primer also helps merchants easily support future payment methods. This is no easy feat in a sector that is increasingly becoming more complex with merchants having to leverage a variety of PSPs, local banking relationships, proprietary payment methods such as the ones offered by Klarna, and other third party payments services.
“It has become increasingly complex for merchants to scale payments as they manage an ever-growing web of interdependent technical integrations across payments services,†said Paul Anthony, co-founder of Primer.
Anthony and Gabriel Le Roux co-founded Primer in January 2020 after the two entrepreneurs met whilst working at Braintree, which part of PayPal.
“Paul Anthony and Gabriel Le Roux have a uniquely strong combination of tech, product and commercial skills across startups and one of the world’s most successful payments companies.´,†said Rob Moffat, partner at Balderton Capital. “Both are incredibly intelligent, driven, ambitious and passionate about solving the pain points in payments.â€
The news comes on the back of Balderton announcing in November 2019 that it had raised a $400m fund to invest in promising tech startups around Europe.
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