Mercury

Mercury

Startup-focused business banking and treasury services

Overview

Mercury provides banking services tailored for startups. It operates as a fintech platform (not a bank) that enables founders to open free checking and savings accounts, issue debit and credit cards, perform domestic and international wire transfers, and access treasury and venture debt tools through its platform. Banking services are provided by partner institutions Choice Financial Group and Evolve Bank & Trust, with Members FDIC protection. The platform emphasizes a startup-focused experience, plus community programs that connect founders with mentors, advice, and resources. Unlike traditional banks or broad fintechs, Mercury combines startup-specific financial products with an ecosystem designed to help early-stage companies manage funds and connect with peers. Its goal is to help startups of all sizes operate confidently and grow by providing accessible banking, financing options, and a supportive community.

Funded Recently

About Mercury

Simplify's Rating
Why Mercury is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Fintech

Financial Services

Company Size

1,001-5,000

Company Stage

Series D

Total Funding

$750.9M

Headquarters

San Francisco, California

Founded

2017

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Simplify's Take

What believers are saying

  • Four years of profitability supports product expansion without constant capital dependence.
  • A national bank charter unlocks Zelle, lending, and better payment economics.
  • Over 300,000 customers provide distribution across startups and broader small businesses.

What critics are saying

  • Mercury still depends on Choice Financial Group, Column N.A., and Evolve Bank & Trust.
  • Final bank approval requires FDIC and Federal Reserve sign-off, delaying integration.
  • AI banking workflows create compliance and trust risks if transactions are misprocessed.

What makes Mercury unique

  • Mercury combines startup banking, cards, invoicing, and real-time cash insights.
  • Its 2026 bank charter approval targets direct control over deposits and payments.
  • Mercury’s AI tools, including Insights and Command, deepen workflow automation.

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Funding

Total Funding

$750.9M

Above

Industry Average

Funded Over

7 Rounds

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.
Series D Funding Comparison
Above Average

Industry standards

$77M
$70M
Twilio
$80M
Handshake
$100M
Affirm
$200M
Mercury

Benefits

Health, dental, & vision

Custom equipment setup

401(K) matching

12+ weeks paid parental leave

Book budget

Wellness benefits

Grocery budget

Paid lunch

Personalized callsign

Unlimited vacation policy (with mandatory minimum)

Growth & Insights and Company News

Headcount

6 month growth

-1%

1 year growth

0%

2 year growth

-1%
7 Globe
May 20th, 2026
Mercury raises $200M at $5.2B valuation, 49% jump in 14 months

Mercury, a fintech firm providing banking services to startups, has raised $200 million in a Series D round at a $5.2 billion valuation, 49% higher than its previous funding 14 months ago. The round was led by TCV, with participation from Sequoia Capital, Andreessen Horowitz and Coatue. The San Francisco-based company serves over 300,000 customers, including a third of early-stage US startups. Mercury has been profitable for four years and recently reached $650 million in annualised revenue. CEO Immad Akhund attributes recent growth to AI fuelling entrepreneurship and new company formation. Mercury recently received conditional approval from the Office of the Comptroller of the Currency to become a federally regulated bank, with final approval expected in 2027. Akhund said he plans to take Mercury public rather than sell.

All Banking Jobs
Dec 19th, 2025
Fintech Mercury applies for OCC bank charter

Fintech Mercury applies for OCC bank charter. Mercury seeks national bank charter. Mercury, a fintech company based in San Francisco, has recently applied for a national bank charter with the Office of the Comptroller of the Currency (OCC). This move signifies a significant step for the company, which is primarily focused on serving startups and venture capitalists. Key appointment and background. Jon Auxier, a seasoned professional in the financial industry, has been appointed as the chief banking officer of Mercury and is set to become the president and CEO of the proposed bank. Auxier's experience includes serving as the CFO of SoFi Bank, where he played a crucial role in the company's transition to becoming a bank. Prior to his time at SoFi, Auxier held senior positions at Green Dot and Goldman Sachs. Striving for innovation and trust. In a statement regarding the application for the national bank charter, Auxier expressed confidence in Mercury's financial strength and operational discipline. He emphasized the company's profitability and strong balance sheet as foundational elements that will enable Mercury to innovate with precision and accountability once granted the charter. Auxier further reiterated the commitment to building a trustworthy and enduring bank that prioritizes the safety and financial well-being of its customers. This dedication to innovation and reliability is underscored by Mercury's long-term vision for the banking sector. Industry trends and regulatory approvals. Mercury's application comes at a time when several fintech companies, particularly those in the crypto sector, have received approval for national trust bank charters from the OCC. Additionally, recent developments, such as PayPal's application for an industrial loan company charter, highlight the evolving landscape of financial services. As part of the application process, Mercury is seeking deposit insurance from the Federal Deposit Insurance Corp. (FDIC) and plans to apply to the Federal Reserve to become a financial holding company. These regulatory steps are crucial for establishing Mercury as an FDIC-insured national bank with enhanced customer experience capabilities. Commitment to customer-centric services. Mercury's CEO, Immad Akhund, emphasized the company's dedication to delivering a superior customer experience at scale through the national bank charter. Akhund highlighted Mercury's focus on ambitious companies and individuals, aiming to provide stability, confidence, and trust in a rapidly evolving banking landscape. In recent times, Mercury has introduced new features tailored to venture capitalists and has collaborated with industry partners to meet the needs of its customer base effectively. Expert insights and future outlook. Tim Mayopoulos, a Mercury board member and former CEO of Fannie Mae, praised the company's decision to pursue a national bank charter as a testament to the synergy between innovation and regulatory oversight. Mayopoulos emphasized the vital role of fintech companies in expanding access to technology-driven banking solutions for small businesses and entrepreneurs. Overall, Mercury's application for an OCC national bank charter represents a significant milestone in the company's journey towards establishing a robust and customer-centric banking institution. John wick. ABJ, a Senior Writer at Luxurylaunches, brings over 10 years of automotive journalism expertise. He provides insightful coverage of the latest cars and motorcycles across American and European markets, while also highlighting luxury yachts, high-end watches, and gadgets. An authentic automobile aficionado, his commitment shines through in educating readers about the automotive world. When the keyboard rests, Sayan feeds his wanderlust, traversing the world on his motorcycle.

Seedcamp
Nov 24th, 2025
Our Companies - Seedcamp

We don’t just invest in companies. We are invested in the best founders from across Europe from the very start of their journey.

Mercury
Nov 21st, 2025
Breaking through the noise: The new rules of startup brand building

Breaking through the noise: the new rules of startup brand building. Two operators-turned-investors on how founders can build authentic, durable brands in an era of endless content. At TechCrunch Disrupt 2025, Mercury hosted a series of Expert Sessions on topics from building a successful podcast to instilling trust in your startup. Here's a recap of insights from its session with Helen Min (founder and general partner at Articulate, and former marketing leader at Facebook, Dropbox, and Plaid) and Ashley Mayer (co-founder and general partner at Coalition, and former comms leader at Glossier and Box). Together, they host the tech podcast Great Chat. In this session, they explored how today's founders can craft stories that cut through the noise and build enduring brands. If you're a startup founder or operator, you're probably well aware of how challenging it can be to cut through the noise and connect with your intended audience. There's more competition for brand attention than ever, which Helen Min and Ashley Mayer - two investors and long-time executives in marketing and communications - say makes it a perfect moment for founders to rethink how they share their stories. In the 2010s, for instance, as senior director of communications at Box, Mayer relied heavily on earned media to tell the cloud platform's story. This meant relying on publications (like TechCrunch) and conferences (like Disrupt), as well as pre-briefing reporters on upcoming product launches. But those days are practically ancient history. "You can no longer outsource your story to the press," Mayer says. "You simply cannot run that playbook any longer." Today, you need to own and deliver your story yourself. But that can feel intimidating. Min and Mayer discussed the state of saturation and competition for brand voice online, and whether those noise levels will continue to rise or subside. Will the trend of startups "building in public" - being openly iterative with their product based on user feedback - shift back to more measured and quiet launch strategies and communications? Will people start to reject the cacophony of relentless content? "Our brains really just can't handle any more launch videos," Min says. "And at some point we're going to say, 'this is too much.'" Drawing on their past learnings and perspectives on the future, Mayer and Min shared their tips for how to build a brand that stands out in today's environment. Whether you're aiming to catch the eye of your potential audience or communicate your brand narrative to investors, it's critical to articulate why your startup exists, how it relates to the broader context of your industry, and what value it brings for customers. These are essential ingredients for crafting a brand story that resonates with customers and investors. "You have to tell a 30,000-foot-view story and find common ground with your audience on things they're already thinking about," Mayer says. While Mayer and Min have extensive operating experience to draw upon, they're both currently full-time investors in early-stage companies, which gives them a multi-faceted perspective on brand storytelling. "At Coalition, we're looking for a founder who has a deep 'why' for the thing that they're building," says Mayer. As an investor, she wants to understand "the reason for doing this truly crazy thing of building a startup." When pitching investors, detail your long-term vision and convey how your startup is poised to still be going strong many years from now, as well as how it interacts with broader market dynamics. For instance, Mayer adds, "Do you have some unfair edge or expertise that means you're going to be faster out of the gate?" When it comes to sharing that vision, the medium can be as important as the message. But there isn't one prescribed way to get that message out. "If you're a founder and the idea of being a thought leader on LinkedIn feels like the worst thing, that probably isn't going to be the best channel for you," Min says. "But I promise you there is one - [you] just have to find it." Instead of feeling like you have to chime in on every platform, she recommends finding the ones that feel authentic to you. By way of example, Mayer and Min reflected on their past experiences. While Mayer was running comms at Box, Min was leading enterprise marketing at cloud rival Dropbox. The CEOs of each company took divergent approaches. Box CEO Aaron Levie was active and enthusiastic on social media, telling their story out in the open - a style that fit both his personality and efforts with the press that Mayer was driving. In contrast, Dropbox CEO Drew Houston was less outspoken on social media about the company's plans or pursuit of new markets. "Drew found his own channels and audience, and what made him feel comfortable," says Min. "Dropbox is also a very successful company, so there are many ways to do this." These contrasting methods prove the sage founder axiom - that authenticity matters above all else. For founders who want to build their company or personal brand and don't know where to start, Min recommends thinking beyond just touting your product, and instead offering interesting, relevant data or insights that your audience finds valuable. This could mean teaching people something new that helps them be better at their jobs. During her time leading marketing at AngelList, Min's team created an educational hub that repackaged years of fragmented blog posts and product explainers into a single learning center. This strategy not only gives your audience an additional reason to visit your channels, it also fosters goodwill and a positive brand association. As Min says, "When somebody teaches you something, you actually have a positive affinity towards that person." And this idea can also extend to startup brands. By building trust via information that your audience values - say, the truly compelling results of your industry-specific survey - you have the chance to also help them see the value in your product. Mayer believes that there's so much competition for brand attention in large part because the total addressable audience for new workplace technologies has grown dramatically. During her time at Box, enterprise software companies could rely on traditional channels for awareness building, with the goal of influencing a narrow set of stakeholders and a more methodical IT buying process. But the game has changed. "Individuals are the ones buying technology in the workplace," she says. "Individuals having AI tools feels existential, and for businesses it feels existential, too. We're seeing this once in a lifetime shift, not just in technology, but a transformation in the speed and the urgency of some of these decisions." Mayer adds that B2B companies like Box are starting to behave more like B2C companies like Glossier (where she also led comms). Individuals are driving decisions, which means you have to meet them where they are - again and again. In a crowded space that's reverberating with sameness and mimicry, originality shines. "People are doing the same things, and very few are breaking through with a truly resonant story," Mayer says. "There's a lot of room for creativity and sharper storytelling." Embrace and showcase what sets your startup apart with fresh, authentic, and well-considered messaging and storytelling. Get creative - and also get concrete - in your strategies to present a vision that speaks to your audience, while remaining authentic to your brand as a founder. Julie Schneider is a freelance writer and editor based in New York City. Covering tech and entrepreneurship, health and science, arts and culture, she produces reported features, brand content and copy, service journalism, and more.

Mercury
Jul 21st, 2025
Customer moment: John Truong on how Attivo helps startups manage their cash with Mercury

Attivo partners with Mercury to pair their strategic accounting guidance with a modern banking platform to optimize cash management and streamline operations.

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