As part of our Spotlight series, we want to talk about Primer, an early-stage fintech startup on a mission ‘to help online merchants power the best commerce experiences in the world’.
Founded by ex-Paypal employees, the startup wants to create an open payments infrastructure that will improve the online checkout experience for customers. Currently, larger merchants find themselves having to support a range of payment methods, particularly if they operate in multiple geographical locations. This requires technical know-how and, if not done well, can result in a poor user experience.
Primer offers merchants a way to get round that without having to do any coding themselves. It aims to allow merchants to seamlessly connect all third-party payment services without juggling complex integrations and to build sophisticated transaction flows even if they don’t know a single line of code. Additionally, merchants will be able to manage their transactions on one dashboard, making it so much easier to keep on top of it all.
As for customers, the checkout experience will be far more convenient, as with all the integrated payment services, customers will be able to use their preferred payment method with zero hassle. Pretty win-win for both merchants and customers!
Based in London, the fintech has raised £14 million in Series A funding bringing their total funding to £17.8 million. It is backed by Accel, Seedcamp, SpeedInvest and Balderton. The new funding will be used for international business development and scaling the Primer team, which currently comprises 25 people.
Finextra quotes Primer’s co-founder as saying: ‘During our time at PayPal, we saw first-hand 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 look forward to seeing where Primer goes next!