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Mercury secures USD 300 million in Series C investment round

Thursday 27 March 2025 09:50 CET | News

Fintech company Mercury has announced that it obtained USD 300 million in a Series C investment round from existing and new investors. 

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.

Mercury secures USD 300 million in Series C investment round

 

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.

Latest news from Mercury

The investment round comes just a week after Mercury announced that it ended its partnership with Evolve Bank following a range of operational issues at the bank. The company intended to finish the migration of its customers from Evolve Bank to other partners, such as the Column National Association or Choice Financial Group. As detailed in a recent expert opinion piece from The Paypers, initially, Synapse Financial Technologies, a now bankrupt BaaS provider, served as an intermediary between Evolve Bank and Mercury until the two chose to work directly together, removing the former as the go-between. After it announced that it had severed its collaboration with Evolve, Mercury mentioned that it did not expect any account interruptions during the migration, with the process also not interfering with Evolve’s ongoing de-risking plan for its Open Banking relationships.

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Keywords: investment, funding, banking, fintech, digital banking
Categories: Banking & Fintech
Companies: Mercury
Countries: United States
This article is part of category

Banking & Fintech

Mercury

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