world-economy

Mercury Fintech Bank Reaches $5.2B Valuation in $200M Funding Round

Mercury, the San Francisco-based financial services provider for startups, closed a $200 million Series D funding round at a $5.2 billion valuation, representing a 49% increase from its previous financing 14 months ago. The round was led by venture capital firm TCV and included participation from Sequoia Capital, Andreessen Horowitz and Coatue. Mercury has achieved four consecutive years of profitability with $650 million in annualized revenue and serves over 300,000 customers, including roughly one-third of early-stage startups. The company recently received conditional approval from the Office of the Comptroller of the Currency to operate as a federally regulated bank, enabling expanded lending services and membership in Zelle while reducing reliance on partner banking relationships. The company's growth has been fueled in part by an AI-driven surge in new business formation.