Mercury, a fintech company providing banking, credit, and financial software, has raised $300 million in a Series C funding round led by Sequoia Capital, with participation from Spark Capital, Marathon, and existing investors including Coatue, CRV, and Andreessen Horowitz. The investment values Mercury at $3.5 billion, surpassing its previous valuation of $1.6 billion in 2021. The company has achieved 10 consecutive quarters of profitability, generating $500 million in revenue in 2024 while experiencing 40 percent customer growth and handling $156 billion in annual transaction volume. Mercury plans to use the funds to expand its product offerings, explore acquisitions, and maintain financial flexibility for future growth.
Immad Akhund, Co-Founder and CEO of Mercury, said, “Mercury began with the vision that banking should do more than safely hold money – it should bring all the ways people and businesses use money into a single product that feels extraordinary to use.” The focus of this round, according to Akhund, is on taking advantage of the chances for our next stage of expansion, which includes fostering innovation with new goods, looking into acquisitions, and guaranteeing long-term financial stability.
