Accel Partner Sonali De Rycker backs a company that she describes in a blog post as representing “the next frontier in payment infrastructure.” Accel led Primer’s 14 million pounds Series A round, which also included Balderton, Speedinvest, Seedcamp and RTP Global.
Based in London, Primer is a low-code payments infrastructure and online checkout API. Founded by a pair of former PayPal employees, the company enables e-commerce merchants and online payment facilitators to consolidate their payments service stack by connecting third-party services such as payment service providers, fraud providers, chargeback services, subscription billion engines, BI tools, loyalty and rewards platforms.
In the blog post, Sonali said the company’s no-code interface puts “the merchant’s payment infrastructure on autopilot and directs payment flows where most effective.” The end result is that merchants can customize their payment infrastructure “without requiring external intervention” and also connect third party solutions for fraud directly into their payment infrastructure, she wrote. In conjunction with the financing, Sonali joined Primer’s board.
Earlier this year, one of Sonali's portfolio companies, Calastone, was acquired by The Carlyle Group. Sonali has also backed Wallapop, Monzo, Shift Technology, Kry, Hopin, Sennder, Lyst and Soldo. With Accel since 2008, she has been on the Forbes Midas List of top venture capitalists for the past two years because of her investment in now publicly traded Spotify. Sonali is part of the team that is investing a $575 million fund that Accel raised last year to invest in Europe and Israel.