5 years ago

Primer Raises £3.8 Million to Disrupt the Payments Space

  • Primer is a Balderton-backed payments startup that launched today

  • The startup has created a single payments programme-interface (API) which connects into all of the main PSPs, fraud providers, and third-party add-ons

  • Primer's target audience is big merchants, who want to mix and match 'best in class' services as well as wanting a 'payment backup' in case their provider crashes

  • The startup is looking to disrupt the payments space by giving merchants more control and flexibility, allowing them to pick and choose different services without integration penalties

  • Balderton led Primer's £3.8m seed round in May, even though the startup didn't yet have a product ready

  • The investment comes as the payments space is heating up again, with investors looking for the next big payment provider.

      • ProblemTechnology

      "Big online merchants are stuck with a single payment provider, limiting their ability to scale and innovate. They want the flexibility to choose the best services, switch providers easily, and have a backup in case their provider crashes. "

      Solution

      "Primer is a platform that connects all major payment service providers, fraud providers, and third-party add-ons. It gives merchants a single dashboard to manage and switch payment providers, giving them more control and flexibility. It also acts as a backup, ensuring payments can continue even if a provider goes down."

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