A former McKinsey consultant who was part of the team that built out HSBC’s corporate payments platform has secured a fresh capital injection for his treasury management platform Primary, which is hoped to transform how Australian businesses manage their cash flow.
The Sydney-based start-up, founded by Ben Buckingham in 2022, has ruled off a $3.5 million seed round led by venture capital firm Carthona Capital and will use the proceeds to target $1 billion in funds under administration in the next two years.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
