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Total amount raised
$646 Million
Latest funding date
2026-05-20
Location
Mercury has raised funding across five disclosed rounds, with the latest being a $200 million Series D announced on May 20, 2026 and led by TCV at a $5.2 billion post-money valuation. The company is backed by investors including Sequoia Capital, Andreessen Horowitz, Coatue, CRV, Spark Capital, and Sapphire Ventures.
Mercury's journey also includes conditional approval from the OCC in April 2026 to establish Mercury Bank, N.A., a de novo national bank. Keep reading to explore the intricacies of Mercury's fundraising journey and the investors backing this innovative platform.
Mercury has raised funding across five disclosed rounds backed by investors including TCV, Sequoia Capital, Andreessen Horowitz, Coatue, CRV, Spark Capital, and Marathon.
Keep reading to explore Mercury's full fundraising journey and learn how the company scaled from a startup banking experiment to a fintech valued at $5.2 billion after its May 2026 Series D.
What Is Mercury?
Mercury is a San Francisco-based fintech company (not an FDIC-insured bank) that provides modern banking services for startups, small businesses, and scaling companies. Founded in 2017 by Immad Akhund, Mercury offers business checking and savings accounts, corporate credit cards, expense management, bill pay, invoicing, venture debt, and treasury management tools, all through a software-first platform designed to serve ambitious entrepreneurs. Banking services are provided through partner banks Choice Financial Group and Column Bank, Members FDIC, and in April 2026 Mercury received conditional approval from the OCC to establish its own nationally chartered bank, Mercury Bank, N.A., with a main office in Salt Lake City, Utah. Mercury has been recognized by Fast Company's Most Innovative Companies, Forbes Fintech 50, and Fortune's Best Places to Work.
How Much Funding Has Mercury Raised?
- Seed Round
- Amount Raised: USD 6,000,000
- Date: August 2017
- Lead Investors: Andreessen Horowitz (a16z), led by partner Alex Rampell
- Notes: Seed funding that enabled the founding team to develop the product prior to public launch.
- Series A
- Amount Raised: USD 20,000,000
- Date: September 2019
- Lead Investors: CRV
- Participating Investors: Andreessen Horowitz, Kevin Hartz, Scott Belsky, Ryan Petersen, Kevin Durant, Andre Iguodala, Naval Ravikant, and over 100 additional investors.
- Valuation: ~$100 million post-money
- Series B
- Amount Raised: USD 120,000,000
- Date: July 28, 2021
- Lead Investors: Coatue
- Participating Investors: Andreessen Horowitz, CRV, Sapphire Ventures, Dylan Field (CEO at Figma), Mathilde Collin (CEO at Front), Akshay Kothari (COO at Notion), Jack Altman (CEO at Lattice), Hunter Walk and Satya Patel (Homebrew), Elizabeth Yin (Hustle Fund).
- Valuation: $1.62 billion post-money
- Notes: Following this round, Mercury also opened a $5 million crowdfunding allotment via Wefunder for its customers.
- Series C
- Amount Raised: USD 300,000,000 (mix of primary and secondary funding)
- Date: March 26, 2025
- Lead Investors: Sequoia Capital (new investor, represented by partner Sonya Huang)
- New Participating Investors: Spark Capital, Marathon
- Returning Investors: Coatue, CRV, Andreessen Horowitz
- Valuation: $3.5 billion post-money (more than double the prior $1.62 billion valuation)
- Notes: This round brought Mercury's total primary and secondary funding to $500 million.
- Series D
- Amount Raised: USD 200,000,000
- Date: May 20, 2026
- Lead Investors: TCV
- Participating Investors: Andreessen Horowitz, Coatue, CRV, Sapphire Ventures, Sequoia Capital, Spark Capital
- Valuation: $5.2 billion post-money
- Notes: Mercury stated the round brings its total primary and secondary funding to approximately $700 million. The round followed the OCC's conditional approval in April 2026 for Mercury to form Mercury Bank, N.A., after applying in December 2025.
Total Amount Raised: at least $646,000,000 based on disclosed funding rounds (Seed: $6M + Series A: $20M + Series B: $120M + Series C: $300M + Series D: $200M), with the Series C figure covering a mix of primary and secondary funding. Mercury states that its total primary and secondary funding is approximately $700 million. As of September 2026, the company's latest disclosed round is its May 2026 Series D.
Key Investors
- TCV
- Details: TCV is a growth-stage investment firm that backs technology companies across software, fintech, and internet sectors. TCV led Mercury's $200 million Series D in May 2026 at a $5.2 billion post-money valuation.
- Sequoia Capital
- Details: Sequoia Capital is one of the world's leading venture capital firms, backing companies in energy, fintech, enterprise, healthcare, and consumer technology. Sequoia led Mercury's Series C in March 2025 as a new investor, represented by partner Sonya Huang, and returned in the Series D in 2026.
- Andreessen Horowitz (a16z)
- Details: Andreessen Horowitz is a stage-agnostic VC firm with assets under management across multiple funds focused on software, fintech, bio, and crypto. a16z backed Mercury from the very beginning, leading the $6 million seed round in 2017 and participating in the Series A, B, C, and D.
- CRV (Charles River Ventures)
- Details: CRV is an early-stage VC firm that specializes in seed and Series A investments. CRV led Mercury's $20 million Series A in 2019 and has continued to participate in subsequent rounds, including the Series D in 2026.
- Coatue
- Details: Coatue is a technology-focused investment firm investing in public and private equity markets across the TMT sector. Coatue led Mercury's $120 million Series B in 2021 and participated in the Series C in 2025 and the Series D in 2026.
- Spark Capital
- Details: Spark Capital is a venture capital firm known for early-stage and growth investments in technology companies. Spark Capital joined Mercury as a new investor in the Series C round in 2025 and returned in the Series D in 2026.
- Sapphire Ventures
- Details: Sapphire Ventures is a global venture capital firm focused on enterprise technology. Sapphire Ventures participated in Mercury's Series B in 2021 and the Series D in 2026.
What's Next for Mercury?
Mercury raised a $200 million Series D in May 2026 at a $5.2 billion post-money valuation, 49% above its March 2025 Series C valuation of $3.5 billion. The round followed the OCC's conditional approval in April 2026 for Mercury to establish Mercury Bank, N.A., a de novo national bank with a main office in Salt Lake City, Utah, which Mercury applied for in December 2025. Mercury remains partnered with sponsor banks Choice Financial Group and Column Bank while it works toward final charter approval, which CEO Immad Akhund said may come in 2027. The company remains private.
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