Primer bags Tencent investment to fuel growth and innovation globally
Investment from Tencent will accelerate the company’s global reach and product innovation
SINGAPORE, 7 November 2023 - Primer, the unified infrastructure for global payments and commerce, has secured investment from the world’s leading internet company Tencent. Primer has experienced rapid growth across Europe, Asia Pacific and the US markets including significant customer wins across retail, fashion, travel and mobility industries with leading brands such as Zip, Beam, Printify, Ocado Smart Platform, ONE Championship and New Look.
Primer welcomes this investment to capitalize on its leading market position, with a key focus on a growing product portfolio and continuing to expand its market reach. The investment demonstrates alignment to Primer’s continued growth strategy and trajectory, alongside a complete global portfolio of investors which will open doors to new markets, partnerships, and growth opportunities.
Primer has redefined the infrastructure landscape by unifying payment and commerce services, while building a powerful set of payment recovery, success and AI tools. As a result, merchants are able to focus on creating superior experiences that deliver maximum returns, faster market expansion and boost customer lifetime value.
The funds procured from this investment will be directed towards ongoing strides in product innovation, nurturing deeper penetration into global markets, and enhancing payment products and features. This financial injection marks a pivotal moment for Primer, ushering in a phase of accelerated growth, heightened innovation, and an even more pronounced global presence.
Commenting on the investment Gabriel Le Roux, CEO and Co-founder of Primer said: “This is an incredibly exciting moment for us. We are addressing a huge problem in the payments industry by enabling merchants to create better commerce experiences while unlocking new revenue streams for the ecosystem. Our mission is to transform the commerce landscape forever, and this investment will not only allow us to deepen our expansion but build innovative data products to better serve the needs of our customers.”
About Primer
Primer is the unified infrastructure for global payments and commerce. With unrivaled freedom and visibility across the payments and commerce ecosystem, Primer equips merchants with the tools to effortlessly optimize performance, build at pace, and capture untapped revenue to achieve unstoppable growth. Operating in over 35 countries, Primer serves category leaders in retail & ecommerce, travel & mobility, ticketing, and fintech. It has raised over US$94M, backed by the likes of Tencent, Iconiq, Accel, Balderton, and RTP Global.
