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.

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

  • Mercury raised $200 million in May 2026 at a $5.2 billion valuation.
  • Revenue hit $650 million annualized in Q3 2025, with four straight profitable years.
  • Q1 2026 applications rose 2.5x year over year, driven by AI startup formation.

What critics are saying

  • OCC, FDIC, and Federal Reserve approvals remain pending after April 2026 conditional approval.
  • Column and Choice Financial still underwrite critical banking rails, creating concentration and counterparty risk.
  • If charter progress stalls until 2027, rivals like Ramp and Stripe will steal product momentum.

What makes Mercury unique

  • Mercury serves one-third of early-stage U.S. startups with founder-first banking software.
  • Mercury’s 2026 AI stack bundles Insights, MCP tools, and Command into workflows.
  • Mercury is pursuing a national bank charter, reducing partner-bank dependence and widening control.

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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

0%

1 year growth

0%

2 year growth

1%
QuickBiz
Jun 21st, 2026
We partnered with the best bank for software founders. Now QuickBiz is the whole foundation.

Quickbiz partnered with the best bank for software founders. Now QuickBiz is the whole foundation. Quickbiz partnered with Mercury, the best bank for software founders, so QuickBiz is now the whole foundation you start a software company on: the entity, the EIN, legal documents built for software, a registered agent, compliance, and the bank account. Not the most pieces. The best version of each one, built for software founders. QuickBiz Team Published June 21, 2026 What you start your company on matters. The bank it runs through, the documents that define it, the entity itself. Every payment, every contract, and every investor conversation eventually passes through these, and most founders end up assembling them from whatever is cheapest or closest at hand. A software company deserves better than that. Quickbiz built QuickBiz to be the best way for a software founder to start a company, and Quickbiz partnered with Mercury because it's the best bank for one. The partnership is the news. What it completes is the bigger story. QuickBiz is now the entire foundation you stand a software business up on, and Quickbiz refused to settle on any single piece of it. The best bank for software founders. Quickbiz judged this the way a founder would, not the way a bank would. Mercury charges no monthly fees and asks for no minimum balance. You get virtual and physical cards, a real API, and software that was obviously built for companies that operate online rather than for someone waiting in a branch line. Your deposits are FDIC-insured through its partner banks, and it handles the things a growing software company reaches for early, like separate accounts to keep cash organized and payments that don't fight you. It's the account funded startups and bootstrapped builders keep choosing, because it fits how a software business actually earns and spends. Bigger, older banks exist. None of them fit a software company the way Mercury does, and when Quickbiz went looking for a banking partner, it wasn't a close call. The best way to start a software company. The other half of the foundation is what Quickbiz has been building from day one. QuickBiz forms your company in your home state when you're keeping it lean, or as a Delaware C-corp when you're raising money. You get your EIN, a registered agent, and compliance tracking so a filing deadline never surprises you. Your operating agreement or bylaws are written for software companies, with the IP assignment language that makes the company actually own the code you wrote. Generic services leave that out, and it tends to surface during due diligence, which is the worst time to find it. One price, everything in it, no cart full of add-ons. Quickbiz laid out what the $0 formation sites really charge if you want the comparison. Everything in one foundation. Put the two halves together and the entire base of a software company sits in one place: the entity, the EIN, legal documents built for software, a registered agent, compliance, and now a Mercury account. Not the most services stacked on top of each other. The strongest version of each one, set up to work as a single system. Because it's one system, the banking step is light. Your Mercury application is built from what you already told Quickbiz at formation, you review and approve exactly what Quickbiz send, and you finish at Mercury. You can even begin before your EIN is issued, since the IRS takes a few days and there's no reason to wait. Your Social Security number never passes through Quickbiz, because Mercury verifies your identity directly, which is where it belongs. Mercury reviews and approves every account, and for now this is built for US businesses and US founders. What it costs. Nothing on top of formation. It comes with the $150-plus-state-fee LLC or the $200-plus-state-fee Delaware C-corp, and Mercury charges no monthly fees of its own. If you already have a bank you trust, connect it instead. The point was never to lock you in. It was to make sure that when you start your software company with Quickbiz, you start it on the best foundation Quickbiz know how to build. * Mercury * business banking * partnership * software founders * one-stop shop

Boland Hill Media, LLC
Jun 17th, 2026
PayIt taps AI for gov. App and other digital transactions news briefs from 6/17/26.

PayIt taps AI for gov. App and other digital transactions news briefs from 6/17/26. * PayIt, a payments provider for state and local governments, launched PayIt Smart Works, a slate of AI-enabled functions for back-office operations, including consolidation of payment, banking, and remittance data. * Banking-technology provider Mercury launched Mercury Command, an AI-based platform enabling users to make payments and conduct other financial business via natural-language command. * Sutton Bank has agreed to serve as BIN sponsor for clients of issuer processor Thredd that are looking to launch U.S.-based prepaid and debit card programs. * Cryptocurrency exchange Bitget said it will work with Paydify, a payment layer for stablecoin transactions between users and merchants, to enable Paydify merchants to have access to Bitget's user base, which Bitget says totals more than 125 million. * Bolt, a provider of car-rental and other mobility options operating in more than 50 countries, has signed on Klarna to offer payment choices integrated in the Bolt app in Sweden, Germany, Finland, and Norway. * Chargeback management provider Chargeflow added Scott Galit, former chief executive of Payoneer, Scott Maxwell, founder and managing partner of investment firm OpenView, and Natalie Refuah, general partner at investment firm Viola Growth, to its board of directors.

Associated Press
Jun 16th, 2026
Mercury launches Command, an AI assistant to manage business finances through natural language

Mercury, a fintech company serving over 300,000 customers, has launched Mercury Command, an AI-powered tool that allows users to manage financial tasks through natural language commands. Customers can check cash positions, categorise transactions, send invoices and modify account settings through a single conversation interface. Command integrates Mercury's existing services including cards, invoicing, bill pay and spend management into one platform. All actions require explicit user confirmation before execution and are bound by existing account permissions. The tool links every response to underlying transaction data for verification. The launch follows Mercury's recent AI products including Mercury Insights and MCP tools. Command is rolling out to all Mercury business and personal customers today.

Associated Press
Jun 3rd, 2026
Mercury acquires San Francisco's King Courier to expand West Coast healthcare logistics

Mercury, a global healthcare and life sciences logistics provider, has acquired King Courier, a San Francisco-based logistics company serving Northern California for decades. The deal expands Mercury's operations in one of the nation's largest biotech and healthcare hubs. King Courier employs nearly 30 drivers, dispatchers and operations personnel, specialising in local courier services including bicycle and vehicle delivery throughout San Francisco. The company primarily serves healthcare, biotech and legal customers. The acquisition gives King Courier's clients access to Mercury's international and cold-chain shipping services, proprietary customer portal and 24/7 support teams. Mercury CEO Josh Medow noted the companies had partnered for nearly a decade before the acquisition. King Courier owner Chris Snell cited Mercury's long-term focus and aligned values as key factors in the decision.

FinTech Futures
May 21st, 2026
Mercury bags $200m Series D at $5.2bn valuation.

Mercury bags $200m Series D at $5.2bn valuation. Mercury has now raised approximately $700 million in total primary and secondary funding ahead of conditionally approved plans to launch a fully chartered national bank in the US. May 21, 2026 Business banking fintech Mercury has raised $200 million in a Series D funding round led by TCV with participation from Andreessen Horowitz, Coatue, CRV, Sapphire Ventures, Sequoia Capital, and Spark Capital. The round values Mercury at $5.2 billion, up 48.6% on the company's previous $3.5 billion valuation secured following its Series C funding round last March. This increase reflects a number of key milestones passed by Mercury since its last fundraise. These include reaching $650 million in annualised revenue in Q3 2025, a 2.5x year-over-year jump in new onboarding applications in Q1 2026, and four consecutive years of GAAP and EBITDA profitability. Most notably, Mercury landed conditional approval for a US national bank charter in April, just five months after its application was first submitted to the Office of the Comptroller of the Currency (OCC). Mercury is now passing through the bank organisation phase and is expected to use its new funding to fuel its journey towards becoming a fully regulated national bank. The company has recently been expanding its range of business banking products, including the roll out of a Model Context Protocol to AI developers in November, the rise of Mercury Personal into general availability in the US in December, and more recently, the debut of a new AI-powered financial analysis tool called Mercury Insights in March. A company statement announcing the Series D confirms that this momentum will continue with Mercury Command, which will offer business owners an AI-driven financial management tool for end-to-end financial workflows and is expected to launch later this year. "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 statement says. Mercury is also currently attempting to land approval with the Federal Deposit Insurance Corporation for Mercury Bank, N.A., and has previously stated plans to file an application with the Federal Reserve to restructure itself as a bank holding company. The fintech has amassed around 300,000 customers in the US since being founded by Immad Akhund, Max Tagher, and Jason Zhang in 2017, with customers including Supabase, ElevenLabs, Lovable, Linear, Phantom, and Tempo. Reporter, FinTech Futures Tyler Pathe is a financial reporter, moderator and investigator with a specific interest in financial technology, banking and the financial industry's latest innovations. Webinar | 26 May 2026 | Value first, technology second: Why most process transformations fail, and how to fix yours Led by industry experts, this webinar will provide a practical, customer value-first framework to help you bridge the gap between business goals and IT execution.

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