So, for merchants’ payment and engineering teams, this dynamic forces immense technical complexity in tying together multiple payment methods, gateways, fraud detection, and more.” However, no one payment solution is close to accommodating all the changes and innovations that merchants need to keep up. “Over the past two decades, the pace of new payment solutions entering the market has been accelerating dramatically to support global consumer demand for trends like mobile payments, digital wallets, 1-click checkout, buy now pay later, and so on. Roy Luo, Partner at ICONIQ Growth, joins Primer’s Board. Primer, which was founded in early 2020 by ex-Paypal/Braintree employees and employs more than 70 people across 20 countries, has built the world’s first automation platform for payments. Existing investors, including Accel, Balderton Capital, Seedcamp, Speedinvest, and RTP Global all participated in the round. The $50M Series B fundraise was led by ICONIQ Growth, the San Francisco based investment firm that has backed global tech companies such as Adyen and Marqeta to Snowflake and Datadog. ![]() London & San Francisco – Tuesday 19 October 2021: Primer has closed a Series B funding round that values the payments infrastructure startup at $425 million only 20 months after being founded. Cements position as Europe’s fastest-growing no-code/low-code startup.Fully-remote team of more than 70 employees in 20 countries expected to triple in 2022.Primer’s valuation rises over 600% since Series A in Autumn 2020.Funding paves way for rapid expansion across Europe, US and Asia.US West Coast investor brings heavyweight expertise to truly global startup.Today a startup called Notable, which is building automation systems to help move that along, is announcing a growth round of $100 million as it finds a ready market for its technology among hundreds of customers, including large networks like Intermountain Healthcare and CommonSpirit Health to cut through the immense amount of what Pranay Kapadia, Notable’s co-founder and CEO, describes as “administrative overhead.” Timing is everything in healthcare - yet too often diagnoses, treatments and procedures are held up by paperwork, administrative red tape between patients, clinicians, carers, bookkeepers, insurance companies and others in the chain of relationships that needs to be processed before steps can be taken. “The healthcare industry on average has $1.1 trillion in administrative spend, which is eight times as many resources required per $1 billion of revenue as any other industry in the world,” he said of the annual budget given to all that work. “There are tens of thousands of workflows that can be automated.” He estimated that among Notable’s current customers, across some 350 locations, Notable’s systems are automating “millions” of tasks a year, “and growing exponentially.” The company is most active in the U.S. ![]() but has plans to take its tech to other markets and to segments adjacent to healthcare, such as health insurance, over time. ![]() 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 - is leading the Series B, with Greylock, Oak HC/ FT and F-Prime also participating. #Notable rpabased 100m iconiq growth series# Kapadia confirmed to me that the round values his startup at $600 million post-money. #Notable rpabased 100m iconiq growth series#.
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