What is Prime Trust?
Prime Trust offers an all-in-one financial infrastructure platform designed to empower fintech innovators. Their robust API suite encompasses critical services such as Custody, Payment Rails, Liquidity, Settlement, Indemnity, Compliance, and Issuance. Based in Las Vegas, Nevada, Prime Trust is strategically positioned to support the rapid development and scaling of digital financial solutions, enabling businesses to build and launch innovative products with greater efficiency and regulatory adherence.
How much funding has Prime Trust raised?
Prime Trust has raised a total of $171.3M across 3 funding rounds:
Debt
$350K
Series A
$64M
Series B
$107M
Debt (2020): $350K with participation from PPP
Series A (2021): $64M led by Samsung NEXT, Mercato Partners, and Nationwide
Series B (2022): $107M supported by Mercato Partners, FIS Global, and Fin Capital
Key Investors in Prime Trust
Samsung NEXT
Samsung NEXT is an investment arm focused on software and services that complement Samsung's hardware ecosystem, actively investing in and developing innovative technologies.
Mercato Partners
Mercato Partners is an investment entity that focuses on business combinations within the technology or branded consumer products sectors, aiming to acquire and operate businesses.
Nationwide
Nationwide is a diversified insurance and financial services organization offering a broad spectrum of products, including retirement plans, annuities, and mutual funds, alongside traditional insurance lines.
What's next for Prime Trust?
With its recent Series B financing and a history of substantial capital raises, Prime Trust is poised for significant expansion. The company's focus on providing foundational financial infrastructure suggests a strategy aimed at becoming an indispensable partner for a wide range of fintech companies. Future developments will likely involve further enhancement of their API capabilities, broader market penetration, and potentially new service offerings to meet the dynamic demands of the digital finance sector. The substantial backing indicates strong investor confidence in Prime Trust's business model and its capacity to capture a larger share of the fintech infrastructure market.
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