London, UK – May 20, 2026 – Primer, a rapidly growing payments infrastructure startup, has successfully closed a $100 million Series C funding round. The investment, spearheaded by Sofina, with significant contributions from Peak XV Partners and continued backing from all existing investors including Balderton, Accel, ICONIQ, Tencent, and Speedinvest, signals strong confidence in Primer's innovative approach to payment management.
AI Integration to Revolutionize Payment Workflows
The newly acquired capital will be strategically deployed to enhance Primer's artificial intelligence capabilities, particularly focusing on its AI-powered product, Primer Companion. This tool is designed to provide finance and payments teams with deeper insights and automation, aiming to streamline complex payment operations. Primer's vision is to move beyond mere analysis, enabling AI to proactively manage and optimize payment processes within predefined parameters. This move aligns with a broader industry trend of integrating AI into core business operations for enhanced efficiency and decision-making. The company believes that by providing full context across every payment, Primer Companion can act on behalf of merchants, identifying issues and opportunities proactively.
Ambitious US Expansion and Revenue Growth Targets
A significant portion of the funding will fuel Primer's expansion into the United States. Currently, the US market accounts for approximately one-fifth of Primer's revenue. The company has set an ambitious target to increase this share to over a third of its overall business by 2028. To support this growth, Primer plans to significantly expand its US team, with intentions to hire up to 50 new roles in the region. This strategic expansion aims to capture a larger market share and solidify Primer's presence in key international markets. Founded in 2020 by former PayPal staff, Primer helps merchants manage payments across various providers, with notable clients including GetYourGuide, Dialpad, and Printful.
A Growing Force in the Payments Infrastructure Landscape
This latest funding round brings Primer's total raised capital to approximately $170 million. The company has previously secured a $50 million Series B round in October 2021, which valued it at $425 million. Primer's core offering provides merchants with a unified infrastructure to manage payment integrations across multiple providers such as Checkout.com, Stripe, and Worldpay. The platform offers a comprehensive view across various processors, acquirers, fraud tools, and payment methods, which is crucial for AI agents to make informed decisions in the evolving payments landscape. The company is also extending its reach to smaller businesses through its "Primer for Growth" program, offering free access to tools that monitor payment performance and identify potential issues. This initiative addresses the critical need for efficient payment solutions, as research indicates a significant percentage of startups find their current payment setups inadequate for future needs.
The successful closure of this Series C round underscores Primer's strong market position and its potential for continued innovation and growth in the competitive fintech sector. The company's focus on AI integration and strategic international expansion positions it for significant future success.