As AI creates the largest wave of entrepreneurs in a generation, Mercury helps founders start, scale, and run their businesses

SAN FRANCISCO: Mercury, the technology company providing radically different banking*, today announced a $200 million Series D at a $5.2B valuation, led by TCV. The round included participation from existing investors including Andreessen Horowitz, Coatue, CRV, Sapphire Ventures, Sequoia Capital, and Spark Capital. This brings total primary and secondary funding to approximately $700 million.

“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. “We are going to see more founders in the next five years than in the last twenty. But legacy banking in 2026 still works the way it did when I started my first company in 2006. I started Mercury because banking should do more than be a vault, it should help customers run the best business possible.”

Today, more than 300,000 customers choose Mercury, including one in three U.S. startups** and a rapidly growing share of AI companies. Mercury counts some of the most consequential tech companies being built today as customers including Supabase, ElevenLabs, Lovable, Linear, Phantom, and Tempo.

Mercury was built for tech startups, but its customers today span across industries including ecommerce companies like Bogey Bros and Cocolab, and professional services companies including Ways & Means and neuemotion. Many customers such as podcaster Dwarkesh Patel use Mercury for both business and personal finances. Now, more than 73% of new customers come from outside the AI and tech startup category.

In Q3 2025, Mercury reached $650 million in annualized revenue and has continued to grow rapidly since, seeing a 2.5x increase in applications in Q1 2026 compared to Q1 2025. That growth reflects Mercury’s continued gain in market share among new businesses being built today and a broader surge in entrepreneurship. Q1 2026 saw an 18% increase from Q1 2025 in new U.S. business applications according to the U.S. Census Bureau. And Mercury’s growth has been profitable: Mercury has delivered four consecutive years of profitability on both a GAAP net income and EBITDA basis.

In the last year, Mercury has also expanded what its account can do. The company launched Mercury Insights, its first in-product AI tool, giving customers an interactive, real-time view of their company’s financial health with no spreadsheets or extra tools required. It expanded its suite of AI developer tools by providing secure access to banking with its Model Context Protocol (MCP) and the ability to take actions directly in the terminal with the launch of its command-line interface (CLI). And with the acquisition of Central, the company will bring AI-native payroll directly into Mercury. It also extended its footprint to founders’ personal finances with the expansion of Mercury Personal, opening the product to all qualifying U.S. applicants.

Later this year, Mercury will introduce Mercury Command, a new way to complete financial work end-to-end with AI. Managing money today still means navigating across tabs, exporting data into spreadsheets, and stitching together external tools. Command changes that. Instead of searching for what you need, you simply tell Mercury what you need and it happens: check your cash position, change your auto-transfer rules, categorize transactions, send an invoice, all in natural language and without leaving your account. Because Command is built directly into Mercury, every answer is grounded in real account data, and every action is reviewed and approved by the customer.

"Mercury and Immad are delivering on a powerful vision: a radically different, genuinely delightful banking experience for ambitious companies across the U.S.,” said Neil Tolaney, General Partner at TCV. “We believe the next generation of entrepreneurs will be AI-native and will need a banking partner that helps them run their finances and build at the pace AI itself is setting. We see Mercury as that partner."

"At TCV, we've backed the leading challengers to legacy banking and the office of the CFO around the world, including Revolut, Nubank, Qonto, Pennylane, Allica Bank, and now Mercury,” said Sudeep Jandyam, Principal at TCV. “We're proud to partner with Immad and the team building the bank that we believe will define the category for decades to come."

This fundraise comes on the heels of Mercury receiving conditional approval from the OCC to establish Mercury Bank, N.A. The conditional approval marks a significant milestone in Mercury's plan to become a fully regulated national bank. As a fully chartered national bank, Mercury Bank, N.A. will provide customers capabilities they can’t access today including access to Zelle, an expanded suite of lending products, and deeper payment infrastructure built and controlled by Mercury.

“The bank of the future is intelligent by design and gets smarter the more you use it because everything is connected. No legacy bank was built like that,” said Akhund.

About Mercury

Mercury is radically different banking* - engineered from the ground up to hold, move, and help you truly understand your money like never before. Everything you need is built in: cards, invoicing, bill pay, spend management, real-time insights, intelligent categorization. And because it all lives in one place, it gets smarter the more you use it - surfacing what you need, when you need it, in ways a patchwork of tools never could. To join the more than 300K entrepreneurs that trust Mercury, visit mercury.com.

*Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC. The IO Card is issued by Patriot Bank, N.A., Member FDIC, pursuant to a license from Mastercard International Incorporated.

**Calculation based on U.S.-based companies that received an angel, pre-seed, seed, or Series A investment reported on Crunchbase in the most recent year.

Fonte: Business Wire