Mercury Raises $200 Million at $5.2 Billion Valuation

Mercury has raised $200 million in a Series D round at a $5.2 billion valuation, announced in a press release. The round was led by investment firm TCV with participation from existing backers including Andreessen Horowitz, Coatue, CRV, Sapphire Ventures, Sequoia Capital, and Spark Capital.

The company, which serves startups and technology-focused businesses, said it now has more than 300,000 customers, including one in three U.S. startups. Mercury has recorded four consecutive years of profitability on both a GAAP net income and EBITDA basis and reached $650 million in annualized revenue in late 2025.

Mercury plans to expand its AI-based financial tools following the recent launch of Mercury Insights, which provides real time financial analysis, and Mercury Command, an upcoming feature that will allow users to manage finances through natural language input. The company also introduced developer tools for secure banking integration and acquired payroll platform Central to enhance its services.

In April, Mercury received conditional approval from the Office of the Comptroller of the Currency to establish Mercury Bank, N.A., a fully chartered national bank. Once operational, it will enable the company to offer direct banking services with expanded lending and payment capabilities, including access to Zelle.