Peak XV Partners has joined the Series C funding round for UK-based payments infrastructure startup Primer, while Singapore Exchange has expanded its partnership with Bank of China.
PeakXV joins UK payment infrastructure Primer’s Series C round
Peak XV Partners has joined the $100-million Series C funding round for UK-based payments infrastructure startup Primer. The round was led by Belgian investment firm Sofina and joined by existing investors, including Balderton, Accel, Tencent, ICONIQ, and Speedinvest.
Founded in 2020 by former executives from PayPal and Braintree, Primer provides a unified infrastructure layer for merchant payments, helping businesses consolidate fragmented payment processors, fraud tools, and acquirers into a single platform.
Primer said the fresh capital will primarily be used to deepen investment in its AI capabilities, including scaling its proprietary AI agent, Primer Companion, which was launched last year. Primer is also betting heavily on the US market.
The company plans to increase US revenue to more than one-third of total revenue by 2028 and hire up to 50 employees in the region.
SGX, Bank of China deepen partnership
SGX Group (Singapore Exchange) has expanded its partnership with Bank of China (BOC) through an upgraded memorandum of understanding aimed at strengthening financial connectivity between China, Singapore, and Southeast Asia.
The enhanced agreement builds on the longstanding collaboration between the two institutions and is intended to support growing trade, investment, and capital flows between the Association of Southeast Asian Nations and China through Singapore’s role as a regional financial gateway.
SGX Group will provide Bank of China and its clients with greater access to international investors, Singapore’s capital markets, and investment opportunities across ASEAN through SGX’s multi-asset platform and regional network.
The collaboration will also support Chinese companies seeking primary and secondary listings in Singapore, including A-share firms listed on the Shanghai and Shenzhen stock exchanges, giving them broader access to international capital markets and fundraising channels to support expansion into Southeast Asia.
The partnership will also focus on expanding offshore renminbi activities through Singapore by leveraging SGX Group’s RMB derivatives platform and market connectivity capabilities to support cross-border business flows in ASEAN.
