Total amount raised
$152.2 Million
Latest funding date
7/1/2022
Location
Mercury has successfully raised funding over 10 rounds, with the latest being a Series C round. The company is backed by 67 investors, including notable names like Sahin Boydas and Flex Capital.
Mercury's journey includes investments in MercuryAi and the acquisition of Teal. Keep reading to explore the intricacies of Mercury's fundraising journey and the investors backing this innovative platform.
What Is Mercury?
Mercury is a fintech company based in San Francisco, California, specializing in online banking solutions for startups and technology-focused businesses. The company operates within the banking, financial services, and fintech industries.
With an employee count ranging from 501 to 1000, Mercury offers a variety of services including business checking and savings accounts, treasury management, business credit cards, and working capital loans. The company emphasizes security and regulatory compliance, providing FDIC insurance through partner banks and robust fraud monitoring.
How Much Funding Has Mercury Raised?
- Seed Round
- Amount Raised: USD 4,925,003
- Date: October 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and build the core team.
- Seed Round
- Amount Raised: USD 6,000,000
- Date: January 2019
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product offering and scale operations.
- Series A
- Amount Raised: USD 21,289,477
- Date: September 2019
- Lead Investors: CRV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance the platform's features.
- Equity Crowdfunding
- Amount Raised: Not publicly disclosed
- Date: August 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To engage the community and raise funds from a broader base of investors.
- Series B
- Amount Raised: USD 120,000,000
- Date: July 2021
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and invest in new technologies.
- Equity Crowdfunding
- Amount Raised: Not publicly disclosed
- Date: September 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further engage the community and diversify the investor base.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: July 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: March 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To offer liquidity options for existing shareholders.
- Series C
- Amount Raised: USD 300,000,000
- Date: March 2025
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enter new markets.
- Series C
- Amount Raised: Not publicly disclosed
- Date: December 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and innovation in the fintech space.
Total Amount Raised: USD 452,214,480
Current Valuation: Not publicly disclosed
Key Investors
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm based in Menlo Park, California. It has a long history of investing in early-stage companies and helping them grow into industry leaders.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Apple, Google, Airbnb
- Coatue
- Details: Coatue is a global investment firm focused on technology, media, and telecommunications. It manages both public and private equity funds.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: Snap, ByteDance, DoorDash
- CRV
- Details: CRV, formerly known as Charles River Ventures, is a venture capital firm that invests in early-stage technology companies. It is based in Cambridge, Massachusetts.
- Investment Focus Areas: Software, internet, communications
- Notable Investments: Twitter, Zendesk, HubSpot
- Andreessen Horowitz
- Details: Andreessen Horowitz, also known as a16z, is a venture capital firm based in Menlo Park, California. It invests in both early-stage startups and established growth companies.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Facebook, Lyft, Slack
- Sahin Boydas
- Details: Sahin Boydas is an entrepreneur and investor known for his involvement in various technology startups. He is one of the most recent investors in Mercury.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
What's Next for Mercury?
Mercury stands at the cusp of significant opportunities in the fintech industry, particularly in the realm of digital banking and neobanks. The rise of digital assets and the integration of AI and blockchain technologies present vast growth potential. As the fintech sector continues to attract substantial venture capital funding, Mercury is well-positioned to leverage these trends to expand its market reach and enhance its service offerings.
Future fundraising opportunities appear promising, with the fintech industry witnessing robust investment activities. Mercury could capitalize on this environment to secure additional funding, enabling further innovation and market expansion. However, the company may face challenges such as navigating regulatory landscapes, staying ahead of technological advancements, and managing competition from both established financial institutions and emerging fintech startups.
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