US FinTech Mercury raises $120m

Mercury, a FinTech that provides software and banking services for SMEs and start-ups, has raised $120 million.

The Series B funding round gives the San Francisco based company a valuation of $1.62 billion.

The round was led by technology focused investment manager Coatue, with participation from Andreessen Horowitz, CRV, and Sapphire Ventures.

The company, founded in 2019, claims to work with 40,000 businesses, hold $4 billion in customer deposits, and have 150 employees in 14 cities.

Mercury said it will use the new funding to expand its team and continue building products that help small businesses scale.

    Share Story:

Recent Stories


Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.

Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.

Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.

Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.