London fintech Primer raises £14 million

UK payments startup Primer has raised £14 million in a Series A funding round led by Accel.

Existing investors Balderton, SpeedInvest and Seedcamp also participated, and were joined in the round by RTP Global.

The investment brings Primer’s total funding to £17.8 million, coming just weeks after the initial launch of the company’s platform.

Founded this year by a pair of former senior European staffers at PayPal-owned Braintree, Primer is building an API to help online merchants consolidate their payments stack.

The firm is promising to help sellers quickly integrate an ever-growing range of payment options in different markets, ensuring a smooth checkout process for customers as well as data driven insights.

Primer co-founder, and head of product and engineering, Paul Anthony says: “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’re delighted to be working with Sonali and the wider Accel team to go to market internationally.”