On one side, e-commerce companies spend a lot of time (and money) in trying to build experiences that are as simple as possible, to keep shoppers sticking around, interested and buying things. There is a curious paradox in the world of e-commerce. "We are building out a whole suite in the next year to aid merchants with operations and the observability of the payment stack," said Paul Anthony, Prime's co-founder and CEO. The plan will be both to add in more integrations, to expand the kinds of relationships Primer builds with the wider payments ecosystem and to build new services for merchants, too.
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When a user creates a payment workflow, Primer creates a separate line of code that developers can use to integrate what's been built on Primer. Primer today works across more than 20 countries and has some 45 integrations that its merchant users can add to their payment flows, ranging from payments providers like Stripe, Apple Pay, Adyen and Braintree, through to fraud screening from Riskified, sales tax calculations from TaxJar and more. ICONIQ Growth - the growth-stage arm of the San Francisco wealth management and investment firm connected to Mark Zuckerberg, Sheryl Sandberg, Jack Dorsey and other high net-worth tech executives - led the round with existing investors Accel, Balderton Capital, Seedcamp, Speedinvest and RTP Global among those also participating.
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Now the company is announcing a Series B of $50 million at a $425 million valuation to double down on the opportunity to do more. startup that has built a drag-and-drop framework to help merchants easily build payment stacks to sell online - has seen rapid take-up of its services in the 20 months since it launched. Their combined experience, knowledge and passion, as well as that of the current Board, will undoubtedly propel the organization to new heights."Įnfusion's other board members include: Thomas Kim Brad Bernstein, Managing Partner of FTV Capital Larry Leibowitz, former COO and Board member of NYSE Euronext Oleg Movchan, Founder and Managing Partner at Gimel Tech Venture Kathleen DeRose, Clinical Associate Professor of Finance (FinTech) at Stern School of Business (NYU) Roy Luo, Partner at ICONIQ Growth and Jan Hauser, formerly of GE and PwC.Primer - a U.K. I leave Enfusion in good hands, knowing that the Board, Thomas and Enfusion's leadership team will continue to build and enhance the company's strong market position. We have spent the last few years building an executive team and technology team intended to make my eventual transition smooth and orderly. "I'm incredibly proud of what we have accomplished to date and am excited to see the company's accomplishments yet to come.
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"Since founding Enfusion more than 25 years ago, the company has become a major disruptor in the investment management software industry," said Hammoud.
I am looking forward to working with our executive leadership team to continue to expand on the original vision and to execute on our strategic initiatives." He has worked incredibly hard and deserves the opportunity to spend more time with his family. "It has been a great experience working alongside him to accelerate our achievements and create strong momentum for the company. "Tarek has been a great partner in making Enfusion what it is today, and we would not have accomplished the things that we have without his vision, talent, focus, and energy," said Thomas Kim, Chief Executive Officer of Enfusion. ("Enfusion") (NYSE: ENFN), a leading provider of cloud-native investment management software and services, today announced that founder Tarek Hammoud is retiring and will step down as a member of Enfusion's Board of Directors.
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