Mar 27, 2025

Mercury raises $300 million on $3.5 billion valuation to expand fintech offerings SHARE Financial technology firm Mercury Financial LLC , best known for being a bank of choice for tech startups, announced today that it had raised $300 million in new funding on a $3.5 billion valuation to deliver new products, explore acquisitions and increase its headcount. ​Founded in 2017, Mercury is a fintech company that provides banking services tailored for startups and tech-focused businesses. The company partners with Federal Deposit Insurance Corporation-insured banks to offer business checking and savings accounts, debit cards and international wire transfers. Beyond traditional banking, Mercury integrates financial tools such as cash flow analytics and dashboards to help businesses manage their finances. The company’s platform also offers an application programming interface to allow companies to automate payments and customize their banking operations. While not its main focus, Mercury has offered venture debt financing since 2022, which provides startups with additional funding options to support their growth. Additionally, in ​September 2022, Mercury introduced the IO World Elite Mastercard, a corporate credit card designed to meet the spending needs of startups and tech-focused businesses. The company has more recently focused on enhancing its financial tools to streamline business operations, with a release in February seeing updates that included improved invoicing and employee receipt management features, further simplifying financial workflows for its users. While a startup raising venture capital would often be expected to have not-so-large numbers, that’s not the case for Mercury, with the company having processed $95 billion in transactions in 2023 and $156 billion in 2024. As of today, Mercury provides banking services and financial support for 200,000 “ambitious companies” across a variety of industries, including ElevenLabs Ltd., Cocolab Inc. and Bogey Bros LLC. Mercury’s Series C round was led by Sequoia Capital Management LP, with Spark Capital, Marathon Asset Management LP, Coatue Management, Charles River Ventures and Andreessen Horowitz Management also participating. “We’re looking forward to leveraging this opportunity to further accelerate our goals of driving innovation with new products, exploring acquisitions and hiring and retaining exceptional talent, all while maintaining long-term financial flexibility,” said Immad Akhund, co-founder of Mercury, in a blog post . Image: Mercury A message from John Furrier, co-founder of SiliconANGLE: Your vote of support is important to us and it helps us keep the content FREE. One click below supports our mission to provide free, deep, and relevant content.