Primer has raised USD 100 million in a Series C round to accelerate AI development and US market expansion.
The funding round saw participation from Peak XV Partners and continued backing from existing investors including Balderton, Accel, ICONIQ, Tencent, and Speedinvest. The oversubscribed round will fund the expansion of Primer's AI capabilities and its growth strategy in the US market.
The core argument underpinning the raise is that AI performance in payments depends directly on data completeness. Many merchants operate across fragmented processors, acquirers, and fraud tools, with no single system providing a full transactional view. Primer positions its unified layer as the necessary foundation for AI agents to operate accurately, and argues that deploying AI across fragmented data introduces the risk of incorrect decisions at scale.
AI agent capabilities and product direction
Following the raise, Primer is expanding its proprietary AI agent, Primer Companion, which was released in 2025 and is already deployed with merchants. The product currently surfaces contextual payment insights and handles complex queries. The next phase of development will extend its capabilities to running experiments, optimising performance, and operating autonomously within merchant-defined parameters, shifting it from an analytical tool to one capable of executing decisions.
This trajectory reflects a broader industry movement toward agentic AI in financial operations, where automated systems are expected to initiate, optimise, and audit payment decisions without manual intervention.
US expansion targets
According to the official press release, the US represents Primer's primary growth focus. The market currently accounts for approximately a fifth of the company's revenue, with annual recurring revenue doubling year-on-year. Primer has set a target of growing US revenue to more than a third of total revenue by 2028, and plans to hire up to 50 roles in the region to support that trajectory.
Jean-François Burguet, Head of Digital at Sofina, noted that merchants are consolidating onto unified infrastructure as AI moves to the centre of transaction decision-making, framing the investment as a long-term partnership aligned with that structural shift. Peak XV similarly highlighted that Primer's depth of transactional context, spanning multiple processors, acquirers, fraud tools, and payment methods, is what enables AI agents to operate effectively at the enterprise level.
