Ex-Paypal execs’ fintech firm expects 200% revenue growth in 2024

Primer co-founder and CEO Gabriel Le Roux / Photo credit: Primer

Payments firm Primer said it is on track to generate a 200% rise in annual revenue for 2024.

This comes as global enterprise merchants acknowledge the pivotal role of payments in shaping new commerce experiences, reducing costs, and boosting growth, according to the UK-based company.

With this, Primer is also expecting a 280% growth in transactions for 2024.

In Asia Pacific, it anticipates a 280% year-on-year revenue increase, supported by an investment from Tencent and partnerships with local companies such as Zenyum, One Championship, and Tazapay.

At the time of Tencent’s investment, Primer said it plans to widen its footprint further in Asia Pacific, with a focus on China, Singapore, and Australia.

Asia Pacific is poised to be the top fintech market globally by 2030, propped up by local industry giants like Ant Group, PhonePe, and Grab. China currently generates the largest share of fintech revenue in the region, which is expected to continue moving forward.

In Europe, Primer’s revenue is forecasted to grow 400% between 2023 and 2024, partly due to alliances with industry players like GetYourGuide, Conforama, and Maisons du Monde.

Launched in 2020 by former PayPal executives Gabriel Le Roux and Paul Anthony, Primer operates in over 35 countries. It enables companies to offer multiple payments and commerce services through a single platform.

The firm has raised US$94 million so far from investors like Accel, Iconiq, and RTP Global.

See also: Ex-Paypal execs’ no-code ‘app store for businesses’ eyes APAC next