Backed by Welsh Programmes, Pryme Secures Conditional £10 Million in Global Growth Drive
Pryme, a UK-headquartered fintech with African roots and a member of FinTech Wales, has announced a major step forward in its £30 million capital raise. The company has secured a £10 million commitment from Black Water Fund, contingent upon the successful completion of the full round.
Pryme’s journey began in 2016 with a single prepaid card, OjirehPrime, launched from a broken Samsung tablet in Africa. Since then, it has evolved into a financial technology platform designed for globally mobile entrepreneurs and SMEs. The firm aims to unify fragmented financial tools—ranging from invoicing and cross-border payments to embedded credit and ERP systems—into a seamless, borderless experience.
Now operating as what it calls a “financial operating system,” Pryme is addressing a pressing gap in the market. Over 1.5 billion people globally work as freelancers, many of whom are underserved by traditional banking systems. In regions like Africa, outdated infrastructure and limited access to credit remain persistent barriers.
Pryme’s current offerings include:
- Multi-currency banking for international payments
- Embedded credit products for small business growth
- AI-powered insights for real-time financial decision-making
- Enterprise tools such as invoicing and ERP systems
Following key milestones—including the acquisition of a licensed microfinance bank in 2020 and a mobile app launch in 2022—Pryme is now working to acquire an IPO-ready enterprise platform in Canada. This would expand its reach into the North American market and enhance its compliance capabilities.
The £10 million commitment from Black Water Fund is a vote of confidence but highlights the challenge ahead: the remaining £20 million of the capital raise is still to be secured.
With remittances to low- and middle-income countries reaching $685 billion in 2024 (World Bank), the demand for agile, infrastructure-focused fintech solutions is rising. Traditional banks have largely overlooked this segment, opening the door for firms like Pryme to step in.
Support from the Welsh fintech ecosystem has played a significant role in Pryme’s journey. Programmes like the Welsh Government’s Soft Landing Programme, along with backing from FinTech Wales and Tramshed Tech, have helped the company scale its operations and deepen its UK presence.
“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 shared. “Our origin story—from a faulty Samsung tablet in Africa to a UK-headquartered fintech—adds a compelling narrative of resilience and innovation.”