Fintech firm Mercury hits $5.2 billion valuation after funding round, up 49% in 14 months
Mercury, a fintech firm catering to startups, has achieved a valuation of $5.2 billion following a $200 million funding round. This marks a 49% increase from its previous valuation just over a year ago, contrasting with the broader fintech sector's struggles. The company has been profitable for four years and recently reported $650 million in annualized revenue, benefiting from the rise of AI-driven entrepreneurship.
- ▪Mercury raised $200 million at a $5.2 billion valuation, a 49% increase from the previous round.
- ▪The Series D funding was led by TCV and included investors like Sequoia Capital and Andreessen Horowitz.
- ▪Mercury has over 300,000 customers, including a third of early-stage U.S. startups.
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Mercury, a fintech firm that provides banking services to startups, has raised $200 million in funding at a $5.2 billion valuation, CNBC has learned exclusively.That valuation is 49% higher than the San Francisco-based company's previous funding round just 14 months ago, bucking the downturn facing much of the fintech sector.The Series D round was led by venture firm TCV — backer of other well-known fintech firms, including Revolut and Nubank — and included existing investors Sequoia Capital, Andreessen Horowitz and Coatue, Mercury CEO Immad Akhund told CNBC.Mercury has emerged in recent years as one of a select group of fintech firms, like the larger payments startups Ramp and Stripe, that have continued to thrive after the collapse of the inflated valuations of the pandemic era.Mercury,…
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