Is this your company? Get featured or correct your listing →
Key Metrics
Company Snapshot
Mercury is a Fintech company, based in San Francisco, California, USA, founded 2017. Latest valuation $5.2B (As of May 20, 2026, Mercury).
Recent changes
- Oct 19, 2026Oct 19, 2026Mercury Crosses $1B In Annualized Revenue Pulse story
- May 20, 2026May 20, 2026Raised $200M Series D at a $5.2B valuation Mercury
- May 20, 2026May 20, 2026First reported revenue: $650M Mercury
- May 20, 2026May 20, 2026New investor: Sapphire Ventures Mercury
- May 20, 2026May 20, 2026New investor: TCV Mercury
Earlier changes (8)
- May 2026May 2026Valuation rose from $3.5B to ~$5.2BEstimated CNBC — Fintech Mercury hits $5.2B valuation, up 49% in 14 months
- Mar 27, 2025Mar 27, 2025Raised $300M Series C Tech Funding News
- Mar 27, 2025Mar 27, 2025New investor: Coatue Management Tech Funding News
- Mar 27, 2025Mar 27, 2025New investor: CRV Tech Funding News
- Mar 27, 2025Mar 27, 2025New investor: Spark Capital Tech Funding News
- Mar 27, 2025Mar 27, 2025New investor: Andreessen Horowitz Tech Funding News
- Mar 27, 2025Mar 27, 2025New investor: Sequoia Capital Tech Funding News
- Mar 26, 2025Mar 26, 2025First reported valuation: $3.5B Mercury
Funding History
2 events · sources dated per row| Date | Event | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| May 20, 2026 | Series D | $200M | $5.2B | TCVLeadunverifiedAndreessen HorowitzunverifiedCoatue ManagementunverifiedCRVunverifiedSapphire VenturesunverifiedSequoia CapitalunverifiedSpark Capitalunverified | Mercury |
| Mar 27, 2025 | Series C | $300M | — | Sequoia CapitalunverifiedCoatue ManagementunverifiedCRVunverifiedAndreessen HorowitzunverifiedSpark Capitalunverified | Tech Funding News |
Underlying values
| As of | Value | Method | Source |
|---|---|---|---|
| May 20, 2026 | $5.2B | Reported | MercuryAlso reported by CNBC — Fintech Mercury hits $5.2B valuation, up 49% in 14 months |
| Mar 26, 2025 | $3.5B | Reported | Mercury |
Investors
Latest Pulse
- Oct 19, 2026Mercury Crosses $1B In Annualized RevenueThe business-banking startup says it's now generating $1 billion in annualized revenue with more than 450,000 customers, growing roughly 50% year over year.→
- Aug 12, 2026Blacksmith's Valuation Jumps 10x to $550M in Under a YearBlacksmith, a code-testing and validation startup, raised a $45 million Series B led by Peak XV Partners at a $550 million valuation, up from $60 million less than a year earlier, as AI-generated code drives demand for faster validation.→
- Jul 8, 2026OpenAI Job Listing Hints ChatGPT Could Replace AnalystsOpenAI posted a role paying up to $205K to make ChatGPT better at investment-banking work, while separately hiring over 100 ex-Wall Street bankers for a project training AI on financial modeling and diligence.→
Coverage Timeline
newest firstAll Coverage
Value Add Research
- Fundraising · Oct 16, 2026Mercury Valuation 2026: $5.2B on $650M Revenue
- Startup Operations · Aug 10, 2026Mercury vs Brex — Startup Bank Comparison
- Startup Operations · May 1, 2026Mercury $5M vs Brex $6M vs Meow $125M FDIC (2026)
- Startup Operations · Aug 20, 2026Navan vs Ramp 2026: Free vs $10-15/User Pricing
- Startup Operations · Aug 20, 2026Brex vs Arc for Startup Cash: Arc's 4.75% Yield Wins
- Fundraising · Jul 29, 20268 Best Venture Debt Lenders — 2026 Ranked
- VC & Investing · Jul 28, 2026$110M Taktile Series C — Goldman Sachs Backs
- Market & Trends · Jun 17, 2026B2B Payments: $125T Market, 40% Still Paper 2026
Related Companies
The VC Read
Mercury going from $3.5B to $5.2B in 14 months while its closest comp, Brex, got sold off to Capital One at a discount is the clearest signal in fintech right now: banking-as-software for startups still works when a company keeps its underwriting discipline and doesn't over-expand upmarket. Akhund saying he doesn't plan to raise again is a statement of confidence — Mercury is generating real yield on $20B+ in deposits, which is a far more durable moat than venture cash. Watch whether it can keep growing transaction volume as rate cuts compress the deposit-interest line that's been propping up fintech-bank economics industry-wide.
How Mercury makes money
Mercury offers free business banking (accounts, ACH, debit and credit cards, dashboard) built on FDIC-insured partner banks (including Choice Financial Group and Evolve Bank & Trust), and makes money on the back end: interchange fees on card spend, interest earned on customer deposits (roughly $20B in deposits generating yield), and FX/international wire fees.
On top of banking, Mercury sells paid software tiers (roughly $35–$350/month) for finance workflow automation — bill pay, treasury, and expense tools — the same 'banking plus software' cross-sell playbook Brex pioneered, aimed at the same startup and small-business customer base.
Competitors
- Brex — The closest direct rival for VC-backed startup banking — now a Capital One subsidiary.
- Ramp — Corporate cards and spend management encroaching on Mercury's banking customers.
- Arc / Relay — Smaller startup-banking challengers competing on the same underwriting model.
- Chase / traditional banks — Legacy business banking Mercury was built to replace for startups.
Profile sources (verified 2026-08-26): CNBC — Fintech Mercury hits $5.2B valuation, up 49% in 14 months · Businesswire — Mercury Announces $300M Series C at $3.5B Valuation · Mercury — Series D announcement · Sacra — Mercury revenue, valuation & funding
Mercury FAQ
How does Mercury make money?
Mercury offers free core banking and makes money on interchange fees from card transactions, interest earned on customer deposits (roughly $20 billion), FX/wire fees, and paid software subscriptions ($35–$350/month) for finance workflow tools.
Is Mercury a bank?
No — Mercury is a fintech company, not a chartered bank. It offers FDIC-insured accounts through partner banks, including Choice Financial Group and Evolve Bank & Trust.
What is Mercury's valuation?
Mercury's valuation is $5.2B (As of May 20, 2026, Mercury).
Who are Mercury's investors?
Mercury's investors include TCV, Andreessen Horowitz, Coatue Management, CRV, Sequoia Capital, and 7 more (As of May 20, 2026).
Sources & methodologyshow
Where these figures come from
- MercuryValue Add VC data3 facts
- Tech Funding NewsValue Add VC data1 fact
Figures are labelled Reported (a source states it), Estimated, Derived (computed from other facts) or Rumored (in talks / unconfirmed). Rumors never replace a confirmed figure. Each figure keeps its own as-of date; history is preserved rather than overwritten.