The investment brings Primer’s total funding to £17.8m just weeks after the launch of the company’s platform and less than a year since it was founded.
The start-up will use the funds to expand international business development efforts and scale up.
The firm offers a payments infrastructure and online checkout API. Its technology is designed to allow eCommerce merchants and online payments facilitators to connect and maintain their payments ecosystem through a unified payments API and checkout.
Without the need for coding, the platform allows merchants to unify their fraud mitigation efforts, build sophisticated transaction routing, and solve complex flows.
Ex-PayPal employees Paul Anthony and Gabriel Le Roux founded the firm January. The remote-first company has 23 employees across six countries.
Primer co-founder, and Head of Product and Engineering, Paul Anthony said: “During our time at PayPal, we saw firsthand the technical burden online merchants face trying to offer the best payments experiences to their customers globally.
“Our low-code approach enables merchants’ payments teams to manage and expand their payments ecosystems, and maintain sophisticated payments logic with a familiar workflow UI. We’re delighted to be working with Sonali and the wider Accel team to go to market internationally, and achieve our longer-term technology vision sooner.”
Sonali De Rycker, Partner at Accel, will join Primer’s board. On the investment, she added: “Primer’s platform addresses a multitude of issues that merchants have to solve as they grow their business in today’s fragmented payments world. The massive acceleration in cross-border commerce as a result of the pandemic has only further highlighted this need.”