Mercury Raises $300M, Valuation Soars to $3.5B
Mercury Raises $300M, Valuation Soars to $3.5B

Mercury Raises $300M, Valuation Soars to $3.5B

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Mercury, a fintech company providing banking services for startups and tech-focused businesses, has successfully raised $300 million in a Series C funding round, achieving a valuation of $3.5 billion. This round, led by Sequoia Capital with participation from Spark Capital, Marathon, and existing investors like Andreessen Horowitz, reflects Mercury's impressive growth and profitability, evidenced by ten consecutive quarters of profitability and significant revenue increases. Mercury serves 200,000 companies, offering a suite of financial services including corporate credit cards, cash flow analytics, and automated payment solutions. The new funding aims to fuel Mercury's expansion into new products, potential acquisitions, and enhancements to its financial tools. This development signals renewed investor confidence in fintechs, especially as Mercury continues to disrupt traditional banking and expand its offerings beyond monoline services. Mercury's growth is further highlighted by its increased transaction volume, reaching $156 billion in 2024, up 64% from the previous year.

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