Prime Trust, a one-stop-shop for API-based financial infrastructure for fintech and digital asset innovators, has raised $64 million in a Series A funding round led by Mercato Partners.
Samsung Next, Nationwide, Commerce Ventures, Ayon Capital, Kraken Ventures, STCAP, s20 Capital, Seven Peaks Ventures, Diverse Angels, University Growth Fund and Nevcaut Ventures joined the round for Prime Trust, which has just crossed $100 million in annual revenue run rate.
The US firm offers core financial service APIs and plug and play widgets that allow companies to launch quickly. It clams to power mission-critical infrastructure for many of the world's leading crypto exchanges, NFT creators, digital wallets, ATS', RIAs, broker dealers, banks, and neobanks.
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, tokenized assets and wallets, and in crowdfunding.
Tom Pageler, CEO, Prime Trust, says: "The vision for Prime Trust was always clear - take the pain out of innovating in financial services. This round of funding will accelerate our ability to keep up with the needs of fintech innovators across a huge variety of applications in payments and alternative assets."