Mercury, the tech firm delivering a newly imagined banking experience to startups and contemporary enterprises, has raised $200 million in its Series D round at a $5.2 billion valuation. The company has been able to attract TCV as the main investor with Andreessen Horowitz Coatue Sequoia Capital CRV Sapphire Ventures, and Spark Capital as other participants. This round of financing takes the firm’s total capital raised to about $700 million. Mercury already has a customer base of over 300 000 including a big part of the U.S. startups and AI-native companies. It was making $650 million in annualized revenue as of Q3 2025 and still showing strong growth and profitability for 4 consecutive years.
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The company is targeting the extension of its AI-assisted product portfolio, such as Mercury Insights for generating financial intelligence in real-time, developer instruments through MCP and CLI integrations, and soon-to-be AI-native payroll features through its buying of Central. Besides, it is going to release Mercury Command, a power-user AI interface enabling individuals to carry out different financial functions by simply conversing with it in natural language – for example, monitoring cash positions, issuing invoices, and modifying transfers. “AI is collapsing the friction between an idea and a company faster than anything I have seen in my career,” said Immad Akhund, co-founder and CEO of Mercury. The company also received conditional OCC approval to establish Mercury Bank, N.A., advancing its path toward becoming a fully regulated national bank with expanded financial services.
