Prime Trust, a one-stop shop for financial infrastructure for fintechs, has closed a $64 million Series A funding round.
The timing of the raise coincides with the firm having crossed $100 million in annual revenue-run rate and 250 million API calls per month from its B2B customers. This is the first institutional round of funding for Prime Trust.
“We are experiencing an explosion of new financial services driven by digital native consumers, and nontraditional markets and assets,” says Zane Busteed, principal investor at Mercato Partners Traverse Fund. “The biggest challenge is turning these ideas into user-ready services. Prime Trust solves this with fast, flexible and secure technology that innovators can use to create products catering to new markets and customers.”
The funding will be used to add systems and personnel who are working on expanding the company’s B2B market share in crypto, including digital asset exchanges, banks, consumer retailers, OTC desks, tokenised assets and wallets, and in crowdfunding, including broker-dealers, crowdfunding portals and real estate syndicators.
Read more/Source: Private Equity Wire
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