Primer raises $ 50 million from Mark Zuckerberg and Jack Dorsey’s wealth manager Iconiq
Primer said it raised the money from Iconiq Capital and other investors, including Balderton Capital and Accel. Iconiq is a Californian wealth manager who invests billions in tech luminaries like Facebook founder Zuckberg, Dorsey of Twitter and former LinkedIn boss Jeff Weiner. She recently opened an office in London.
Primer was founded by two former PayPal employees and has built a platform that allows businesses to handle several different payment methods, such as buy it now, pay later, and credit cards. The company was formed just 20 months ago but was valued at $ 425million (£ 308million) in today’s roundtable. It employs 70 people in 20 countries.
“The pace of new payment solutions entering the market has accelerated dramatically to meet global consumer demand for trends such as mobile payments, digital wallets, one-click pay, buy now, pay later. , etc. Said Roy Luo, partner at Croissance ICONIQ.
“However, no payment solution comes close to adapting to all the changes and innovations that merchants need to keep pace. So, for merchant payment and engineering teams, this dynamic imposes an immense technical complexity by combining several payment methods, gateways, fraud detection, etc.
Primer Co-Founder Paul Anthony said, “ICONIQ Growth shares our expansive vision, so it is extremely gratifying to add them to our Board of Directors as a trusted and experienced partner and advisor.
Co-founder Gabriel Le Roux said: “We have people deployed in 20 countries, but we need to grow our teams even faster to meet the demand that we see among merchants and third-party services in several countries and sectors with which they wish to work. we.”