Tencent Invests in Global Payments Firm Primer

Published 24 days ago

Singapore-based global payments and commerce infrastructure, Primer, has confirmed an investment from Tencent, the world’s leading internet company. The investment comes as Primer experiences swift growth across markets in Europe, the US, and the Asia Pacific, with significant customer acquisitions in various industries, including retail, fashion, travel, and mobility. Renowned brands like Zip, Beam, Printify, Ocado Smart Platform, ONE Championship, and New Look are among Primer’s clients.

Strengthening Market Leadership

The investment from Tencent will enable Primer to consolidate its leading market position, focusing on expanding its product portfolio and market reach. The financial support aligns with Primer’s sustained growth strategy and trajectory, bolstered by a comprehensive global portfolio of investors. This global investor network presents new opportunities for market expansion, partnerships, and growth.

Redefining the Payment Infrastructure

Primer is transforming the infrastructure landscape by unifying payment and commerce services. By developing powerful payment recovery, success, and AI tools, the company enables merchants to concentrate on creating superior experiences that yield maximum returns, boost customer lifetime value and facilitate faster market expansion.

Accelerating Product Innovation and Market Penetration

The funds from Tencent’s investment will be channelled towards enhancing Primer’s strides in product innovation, deepening its penetration into global markets, and upgrading its payment products and features. This financial boost represents a significant milestone for Primer, signalling a period of accelerated growth, increased innovation, and a more prominent global presence.

CEO Remarks on the Investment

Gabriel Le Roux, CEO and Co-founder of Primer, expressed excitement over the investment, noting that it allows Primer to tackle a significant challenge in the payments industry. Le Roux stated that the company’s mission is to permanently transform the commerce landscape. The investment will facilitate deeper expansion and the development of innovative data products to better meet customer needs.