US Top News and Analysis | Fintech firm Mercury hits $5.2 billion valuation after funding round, up 49% in 14 months

AI generated summary, Read the full article for complete information.

Fintech firm Mercury raised $200 million in a Series D round, valuing it at $5.2 billion—a 49% jump from its previous funding, with the round led by TCV and participation from Sequoia Capital, Andreessen Horowitz and Coatue. The San‑Francisco‑based company, which serves over 300,000 startups and has been profitable for four years with $650 million in annualized revenue, recently secured conditional approval from the Office of the Comptroller of the Currency to become a federally regulated bank, allowing it to offer loans, join the Zelle network and reduce reliance on partner banks. CEO Immad Akhund attributed recent growth to an AI‑driven surge in new‑business formation and said Mercury will expand its AI‑powered financial tools, continue working with partner banks, and eventually aim for an IPO while building a strong independent brand.

Read more: https://www.cnbc.com/2026/05/20/fintech-mercury-valuation-fundraise-bank-charter.html

#Mercury #TCV #SequoiaCapital #AndreessenHorowitz #ImmadAkhund