Primer, a digital payment orchestrator, has raised $100m in a Series C funding round to continue developing its AI-enabled operating layer for payments and finance teams.
The round was led by Sofina, with participation from Peak XV Partners.
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Existing investors also joined the financing, including Balderton, Accel, ICONIQ, Tencent, and Speedinvest.
In a statement, Primer said the Series C round was oversubscribed.
When approached by Electronic Payments International, the company declined to disclose its post-money valuation.
“We’re not disclosing the valuation, investment breakdowns, or specific growth plans beyond what’s been shared in the release at this stage,” Primer said.
Following the funding, Primer said it will invest in expanding its AI capabilities, including further development of its AI agent, Primer Companion.
The company launched Primer Companion last year. It is used by merchants to answer payments-related questions and provide contextual insights.
Primer said it intends to add functions that will allow the agent to run experiments, optimise performance and operate autonomously within parameters defined by merchants.
Primer also said it plans to accelerate growth in the US.
The company said the region currently represents around a fifth of its revenue. It aims to increase that share to more than a third of total revenue by 2028. The digital payment orchestrator also plans to hire up to 50 roles in the US to support the expansion.
In an exclusive statement to Electronic Payments International, Primer co-founder and CEO Gabriel Le Roux said: “The US is an enormous opportunity for Primer because it’s one of the most sophisticated and competitive commerce markets in the world. But success there requires real commitment, not just exporting a product, but building the right local team, relationships and market understanding on the ground.
“As we scale following our Series C, we’re approaching US expansion with the right foundations and long-term conviction to do it properly.”
Primer was founded in 2020 by former PayPal and Braintree employees. The platform processes “billions of transactions annually” for brands including GetYourGuide, Dialpad and Printful.
It has raised $170m in total funding to date.
