Work Here?
About Mercury
Industries
Fintech
Financial Services
Company Size
1,001-5,000
Company Stage
Debt Financing
Total Funding
$146.8M
Headquarters
San Francisco, California
Founded
2017
Overview
Mercury provides banking services specifically designed for startups, regardless of their size or stage of development. Their offerings include free checking and savings accounts, debit and credit cards, and options for domestic and international wire transfers, as well as treasury and venture debt services. The platform is user-friendly, allowing founders to manage their finances with ease. What sets Mercury apart from traditional banks is its focus on the startup community, offering programs that connect founders with valuable resources and advice to help them succeed. The goal of Mercury is to empower startups by providing them with the financial tools and support they need to grow and thrive.
Simplify's Take
What believers are saying
- Mercury secured a $100 million credit warehouse to expand its credit card business.
- The acquisition of Teal enhances Mercury's financial management offerings for startups.
- Mercury Personal expands market reach by attracting tech-savvy individuals.
What critics are saying
- Mercury's decision to stop serving certain countries may lead to customer loss.
- Integration challenges from the Teal acquisition could disrupt services.
- Expansion into consumer banking might divert focus from core startup services.
What makes Mercury unique
- Mercury offers both business and personal banking services, unlike many fintech competitors.
- The company provides integrated financial management tools, enhancing startup operational efficiency.
- Mercury's Raise program connects startups with investors, mentors, and other founders.
Help us improve and share your feedback! Did you find this helpful?
Funding
Total Funding
$146.8M
Above
Industry Average
Funded Over
4 Rounds
Coatue Management
Andreessen HorowitzBenefits
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
6 month growth
↑ 2%1 year growth
↑ 0%2 year growth
↑ 2%Innovation is no good to the businesses that fail to embrace it. But as advanced technologies to streamline payments and financial data management reshape competition in commercial payments, the transformation of business-to-business (B2B) payments is taking center stage this month as PYMNTS, together with industry experts, dissect the technologies, strategies and collaborations that are reimagining what commercial payments could be. The first week of the Outlook 2030 event centers on how platform and network models are impacting business payments. Week Two covers interoperability and data standards, while Week Three lands on closed vs. open networks. We end the month with the lifeblood of any company: cash flow
Today, we’re excited to announce that Mercury secured a $100 million credit warehouse with multinational bank Natixis Corporate & Investment Banking.
FinTech company Mercury secured a $100 million credit warehouse with Natixis Corporate & Investment Banking to grow its corporate credit card business.
Vancouver-based seed-stage startup Teal has been acquired by San Francisco FinTech firm Mercury for an undisclosed amount.
Digital banking startup Mercury has recently announced that it no longer serves US-domiciled customers with passports from certain countries, including Ukraine, Nigeria, and others. Mercury recently faced federal scrutiny for allowing foreign companies to open accounts through one if its partners, Choice Bank. The Federal Deposit Insurance Corporation (FDIC) showed concerns over the fact that Choice Bank had opened Mercury accounts in legally risking countries. To address that, a spokesperson from Mercury stated that the company has updated its eligibility requirements and notified certain customers that it could no longer support them due to their addresses or the locations where they were recording frequent account activities. Some of these locations include, among others, Ukraine, Nigeria, North Korea, Iran, Libya, and Russia. However, the change in policy for Ukrainian people only appears to be applied to founders living in East European country, and not founders living in the US with a Ukrainian passport
Mercury is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today
About Mercury
Industries
Fintech
Financial Services
Company Size
1,001-5,000
Company Stage
Debt Financing
Total Funding
$146.8M
Headquarters
San Francisco, California
Founded
2017
Mercury is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today