Pryme, a fintech firm with roots in Africa and headquarters in the United Kingdom, is in the middle of a £30 million capital raise targeted at enhancing how globally mobile entrepreneurs and SMEs manage finances.
The company has secured a £10 million commitment from Black Water Fund, but it comes with a caveat; the funds will only be disbursed if Pryme successfully closes the entire funding round.
The goal is to scale a platform that has outgrown its e-commerce beginnings and morphed into what Pryme describes as a financial operating system for modern businesses.
From invoicing to cross-border payments and embedded credit, Pryme is bundling fragmented financial services into one borderless experience and there is huge demand for.
Over 1.5 billion people now work as freelancers globally. In Africa, these professionals and small businesses are boxed in by outdated banking systems, weak credit access, and an inability to move money freely. Pryme is working to be the infrastructure company that serves them where banks won’t.
The company started in 2016 with a single prepaid card, OjirehPrime, launched from a broken Samsung tablet somewhere in Africa. That card eventually attracted 40,000 users. In 2020, Pryme acquired a licensed microfinance bank. Two years later, it launched a mobile app.
Today, it is working on acquiring an IPO-ready enterprise platform in Canada, an aggressive move to gain access to North American markets, enterprise customers, and local compliance frameworks.
The £10 million term sheet from Black Water Fund is a good vote of confidence but also a cue of the risks involved in Pryme’s expansion. The remaining £20 million is yet to be secured.
Speaking of opportunities, in 2024 alone, remittances to low- and middle-income countries reached $685 billion, according to the World Bank.
Traditional banks have left this global, digital-first segment underserved. That vacuum has created an opening for infrastructure-layer fintechs like Pryme.
Pryme’s platform today includes Multi-currency banking for international payments, Embedded credit products for small business growth, AI-powered insights for real-time financial decision-making and Enterprise tools like invoicing and ERP systems.
The firm’s expansion plan includes strengthening its presence in the UK and North America, building out compliance frameworks, and absorbing tech infrastructure that allows it to scale fast.
“Pryme’s platform now includes multi-currency banking, embedded credit, AI-powered insights, and ERP tools—positioning it as a financial OS for global entrepreneurs.”
“The company’s origin story—from a faulty Samsung tablet in Africa to a UK-headquartered fintech—adds a compelling narrative of resilience and innovation.”
With support from programmes like the Welsh Government’s Soft Landing Programme, as well as backing from FinTech Wales and Tramshed Tech, Pryme is building a new lane in the borderless finance space.
