Startup profile for Mercury: latest funding, latest known valuation, total disclosed funding, investors, status, sources, and why the company is interesting. Part of the Venture Capital Tracker startup directory.
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Mercury funding, valuation and investors

Startup banking — checking, treasury, cards, and financial workflows for tech companies.

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Funding, valuation & investors

Answer-first snapshot

Latest funding

Series D

$200M · 2025

Latest known valuation

$5.2B

Series D · 2025

Total disclosed equity funding

$326M

Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.

Current status

private

growth · San Francisco, California

Investors in latest funding

Other: Andreessen Horowitz

Sources: latest funding Last verified: 2026-07-25

Overview

Mercury is a fintech providing banking and financial software for startups and technology companies. It offers business checking and savings, corporate cards, treasury products, invoicing, and integrations with cap-table and accounting tools — all via a modern web interface. Founded by Immad Akhund, Jason Zhang, and Ahmad Hassan, Mercury raised a $120M Series B in July 2021 at $1.62B led by Coatue with a16z and CRV participating, followed by a reported $200M Series D at $5.2B valuation with $650M ARR and 300K+ customers.

Why Mercury is interesting

Mercury crossed $650M ARR and 300K+ customers before a $200M Series D at $5.2B (2025) — proof that vertical neobanks win by owning startup workflows (cap table integrations, investor updates) not just deposits.

Product & use cases

Mercury provides FDIC-insured business banking through partner banks, plus software for startup finance teams: multi-account treasury, virtual and physical cards, bill pay, invoicing, and API access. Designed for venture-backed companies from incorporation through growth.

  • New startups opening business checking and cards without branch visits
  • Finance teams managing runway across multiple Mercury accounts and treasury products
  • Companies integrating banking data with QuickBooks, Stripe, and cap-table tools

Key facts

  • Series D (2025): $200M at $5.2B; $650M ARR and 300K+ customers reported
  • Series B (Jul 2021): $120M at $1.62B led by Coatue; a16z and CRV participated
  • Seed (2017): $6M led by a16z
  • Banking services provided via partner banks with FDIC insurance

Funding history (newest first)

Series D

2025 $200M Valuation: $5.2B

Source: https://venturecapitaltracker.com/blog/2026-mercury-200m-series-d-startup-banking-5-2b

Series B

2021-07 $120M Valuation: $1.62B

Source: https://mercury.com/blog/series-b

Seed

2017-08 $6M

Source: https://mercury.com/blog/mercury-seed

Investors in our directory

Funds linked from Mercury's profile — open a fund page for stage focus and related deal articles.

Andreessen Horowitz Coatue CRV

Competitive landscape

Edge: Mercury built brand as the default startup bank in VC ecosystems — faster onboarding, cleaner UX, and product choices tuned for tech companies (e.g., investor-friendly accounts) versus generic SMB neobanks.

Startup banking consolidated around a few neobanks post-SVB. Mercury's scale ($650M ARR, 300K customers) shows deposits plus software beats pure card plays — but interest-rate cycles and banking partner economics affect margins.

  • Brex direct

    Startup-focused corporate cards and cash management; shifted upmarket while Mercury expanded banking depth.

  • Ramp direct

    Corporate cards plus spend management; strong on AP automation vs Mercury's banking-first positioning.

  • Silicon Valley Bank (First Citizens) incumbent

    Historical startup banking default; Mercury gained share post-2023 SVB crisis among new incorporations.

Notable stories

  • Mercury gained significant startup market share after Silicon Valley Bank's 2023 crisis as founders sought alternative tech-native banking partners.
  • Founder Immad Akhund built Mercury after experiencing painful traditional banking as a serial entrepreneur — product decisions reflect founder-banker empathy rare in incumbents.

Industries

Fintech Enterprise SaaS

Related funding articles

Venture Capital Tracker pieces that cover Mercury's financing or category context.

FAQs about Mercury

Practical answers founders, operators, and investors typically search for.

Mercury provides business banking and financial software for startups — checking, treasury, corporate cards, invoicing, and integrations designed for tech companies.
Andreessen Horowitz (/fund/andreessen-horowitz) led the seed and participated in later rounds. Coatue (/fund/coatue) led Series B; CRV (/fund/crv) also invested.
$5.2B at the reported 2025 Series D, with $650M ARR disclosed.
Both serve startups. Mercury emphasizes full banking (checking, treasury); Brex historically led with corporate cards and expanded into cash management.
Mercury is a fintech; FDIC-insured accounts are provided through partner banks, disclosed in Mercury's legal documentation.
Immad Akhund (CEO), Jason Zhang, and Ahmad Hassan.
300K+ customers reported at the 2025 Series D announcement.
2025 — $200M at $5.2B valuation per Venture Capital Tracker coverage.
No public profitability disclosure; company reported $650M ARR at Series D.
Mercury publicly reported influx of new accounts in March 2023 as startups diversified banking relationships after SVB's failure.
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By Venture Capital Tracker

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