Prime Trust Raises $64M Series A for Financial Infrastructure Platform

Prime Trust, a fintech financial infrastructure company, announced a $64 million Series A funding round in July 2021, as its annual revenue run-rate crossed the $100 million mark. Prime Trust provides API-driven financial infrastructure that enables fintechs and other companies to embed financial services including custody, payments, AML/KYC compliance, and transaction processing into their platforms. The substantial revenue run-rate at the Series A stage indicates strong product-market fit and significant adoption of its infrastructure services.

Prime Trust's platform serves as a regulated intermediary, allowing fintech clients to offer financial products without building their own banking and compliance infrastructure from scratch. The funding was expected to accelerate product development and expand the company's infrastructure capabilities. The round reflects the broader trend of significant capital flowing into financial infrastructure providers that serve as the plumbing layer for embedded finance and BaaS applications.

Prime Trust's focus on custody and compliance infrastructure also positioned it at the intersection of traditional finance and emerging digital asset markets.