Mercury, a Bay Area fintech company offering banking solutions, pulled in a $300 million Series C funding round led by Sequoia Capital. The investment more than doubles the company’s valuation since its Series B, bringing its current valuation to $3.5 billion post-money.
The company provides over 200,000 enterprise customers with solutions that stem from its foundational bank account product. Mercury offers corporate credit cards, as well as financial software to streamline bill payments, invoicing, accounting automation and employee expense management. It also offers consumer financial products.
This round of funding follows a period of notable growth for Mercury. The company pulled in $500 million in revenue in 2024, grew its customer base by 40 percent year-over-year and recorded $156 billion in annual transaction volume. Backed by its fresh capital, Mercury will build on this momentum, planning to fuel its next phase of growth. The company will invest in product innovation, acquisitions and establishing long-term financial flexibility.
