Led by new investor Sequoia Capital, Mercury’s Series C round included primary and secondary funding, bringing the company’s valuation to nearly USD 3.5 billion post-money. In addition to Sequoia Capital, the round also saw participation from Spark Capital, Marathon, Coatue, CRV, and Andreessen Horowitz. Mercury underlined its commitment to optimising banking and allowing individuals and businesses to leverage their money into a single product that is user-friendly and efficient.
Furthermore, with the newly added capital, Mercury aims to support its next phase of growth, planning to develop additional products as part of its offering, explore acquisitions, and ensure long-term financial flexibility. This investment follows a Series B funding round from 2021, when the company obtained USD 120 million and reached a valuation of USD 1.62 billion. Since then, Mercury has launched several solutions, including a corporate credit card in 2022 and financial software in 2024, to support businesses in paying bills, sending invoices, automating accounting, and managing employee expenses. Also, to expand into the consumer sector, the company rolled out Mercury Personal.
At the time of writing, Mercury’s services were leveraged by approximately 200,000 companies operating across several industries. Among them, the company mentions Linear, Phantom, ElevenLabs, Cocolab, and Bogey Bros.
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