Key Metrics
Company Snapshot
Mercury is based in San Francisco, California, USA, founded 2017. Latest valuation ~$5.2B (As of May 2026, CNBC — Fintech Mercury hits $5.2B valuation, up 49% in 14 months).
Recent changes
- May 8, 2026May 8, 2026Raised $200M SEC EDGAR Form D
- May 2026May 2026First reported valuation: ~$5.2BEstimated CNBC — Fintech Mercury hits $5.2B valuation, up 49% in 14 months
Funding History
1 event · sources dated per row| Date | Event | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| May 8, 2026 | funding round | $200M | — | SEC EDGAR Form D |
Investors
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Value Add Research
- 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, 20265 Best Expense Tools — Ramp vs Brex vs Navan
- Startup Operations · Aug 20, 20265 Best Startup Banks — Mercury vs Brex (2026)
- Fundraising · Jul 29, 20267 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
- AI & Technology · Jun 15, 2026Inception Labs: $50M Seed Round, $10B Valuation Path
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 2026, CNBC — Fintech Mercury hits $5.2B valuation, up 49% in 14 months).
Who are Mercury's investors?
Mercury's investors include CapitalX, CRV, Homebrew, Liquid 2 Ventures, Spark Capital, and 2 more (As of May 2026).
Sources & methodologyshow
- SEC EDGAR Form Dprimary source1 fact
- CNBC — Fintech Mercury hits $5.2B valuation, up 49% in 14 monthsmajor outlet1 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.