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| Primer leadership team pictured left to right. Top row: Pierre-Edouard Jumel (CFO), Gabriel Le Roux (Co-Founder and CEO), Sam Elgar (VP Merchant Experience) and Theo Spyrides (VP Product). Bottom row: Caitriona Staunton (VP People), Alex Mallet (CTO), Jade Maitland (VP Marketing) and Mikael Minvielle (COO). |
KUALA LUMPUR, May 20 (Bernama) -- Primer, the unified infrastructure for global payments, has secured a US$100 million Series C funding round as it expands its artificial intelligence (AI)-enabled operating layer for global payments and finance. (US$1=RM3.97)
The funding round was led by Sofina, with participation from Peak XV Partners and continued backing from existing investors, including Balderton Capital, Accel, ICONIQ Capital, Tencent, and Speedinvest.
In a statement, Primer said the new funding will support expanded investment in AI capabilities, including the development of its proprietary AI agent, Primer Companion.
The company said Primer Companion is already being used by merchants to address payment-related queries and generate contextual insights, with future capabilities expected to include autonomous experimentation, performance optimisation, and execution within merchant-defined parameters.
Primer said fragmented payment data across processors, acquirers, and fraud tools remains a major challenge for businesses seeking to deploy AI-driven payment systems effectively.
Founded in 2020, the company said its unified payments infrastructure captures more than 400 data points per transaction and manages more than 95 per cent of customer payment volume on average.
According to Primer, the United States (US) currently accounts for around one-fifth of company revenue, with annual recurring revenue in the region doubling year-on-year.
The company plans to increase US revenue to more than one-third of its business by 2028 and expects to hire up to 50 employees in the region to support its expansion strategy.
-- BERNAMA
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