Mercury Technologies, Inc.

About Mercury Technologies, Inc.

Financials

Dated, source-cited figures. Estimates are marked.

Products by Mercury Technologies, Inc.

All products by Mercury Technologies, Inc. reviewed by our AI panel of experts.

MercuryAI Finance

Business banking built for startups and online businesses

Free8.3/10

How Our Review Panel Scores Mercury Technologies, Inc.

Six independent reviewer personalities assessed Mercury Technologies, Inc.'s product on their own terms. They landed within 0.7 points of each other, an unusually strong consensus.

Averaged across 1 reviewed product in our catalog. Scores are out of 10.

Competitive Landscape

Who Mercury Technologies, Inc. competes with, and how they differ.

Brex7.9/10

Direct competitor offering business banking, corporate cards, and expense management for startups, with a similar target market but stronger emphasis on card-first spend management rather than deposit/treasury banking.

1 product reviewed on TopReviewed

Ramp8.0/10

Overlaps in corporate card and spend management for startups and SMBs, but focuses primarily on expense automation and bill pay rather than being a full banking-as-a-service deposit account provider.

1 product reviewed on TopReviewed

Bill.com7.8/10

Competes on accounts payable and cash management tools for businesses, but is oriented toward SMB back-office finance automation rather than core banking and treasury infrastructure.

1 product reviewed on TopReviewed

Modern Treasury Corp.7.8/10

Targets a more technical, API-first developer audience for payment operations and ledgering, serving fintechs and platforms rather than offering a direct-to-startup bank account product.

1 product reviewed on TopReviewed

N

Novo

A fintech business banking platform for small businesses and startups, competing directly with Mercury on checking accounts and simple fee-free banking, though with less emphasis on treasury and credit products.

S

SVB (Silicon Valley Bank, now part of First Citizens)

Historically the dominant traditional bank for venture-backed startups, offering banking, credit, and treasury services with deeper lending relationships but less modern digital UX than Mercury.

Company Timeline

Key milestones in Mercury Technologies, Inc.'s history, with sources.

1. May 20, 2026Funding

   Series D — $200M led by TCV at $5.2B valuation

   Mercury raised a $200 million Series D led by TCV, with returning investors Andreessen Horowitz, Coatue, CRV, Sapphire Ventures, Sequoia Capital, and Spark Capital, at a $5.2B post-money valuation — up 49% from its Series C valuation 14 months earlier.

   mercury.com
2. Apr 28, 2026Milestone

   OCC grants conditional approval to form Mercury Bank, N.A.

   The Office of the Comptroller of the Currency gave Mercury conditional approval to establish Mercury Bank, N.A., a Utah-headquartered national bank subsidiary, with Jon Auxier named as its CEO and president.

   bankingdive.com
3. Dec 19, 2025Milestone

   Applies to the OCC for a national bank charter

   Mercury submitted an application to the Office of the Comptroller of the Currency to form Mercury Bank, N.A., disclosing 200,000+ customers, $650M in annualized revenue, and three years of GAAP profitability.

   mercury.com
4. Mar 25, 2025Funding

   Series C — $300M led by Sequoia Capital at $3.5B valuation

   Mercury raised $300 million in primary and secondary funding led by Sequoia Capital — its first check into the company — at a $3.5 billion post-money valuation, more than double its 2021 Series B valuation, with Coatue, CRV, Andreessen Horowitz, Spark Capital, and Marathon also participating.

   mercury.com
5. Apr 17, 2024Launch

   Launches consumer banking product amid reported partner-bank compliance scrutiny

   Mercury launched a consumer banking product for its business customers, charging a $240 annual fee; the same reporting detailed FDIC concerns that partner bank Choice Financial Group had opened Mercury accounts in legally risky countries and under-vetted compliance flags.

   techcrunch.com
6. Jul 7, 2023Milestone

   Gains nearly 26,000 customers in the four months after SVB's collapse

   Mercury reported gaining almost 26,000 new customers and over $2 billion in new deposits in the four months following Silicon Valley Bank's March 2023 failure, including 8,700 new customers in March alone.

   techcrunch.com
7. Jul 28, 2021Funding

   Series B — $120M led by Coatue at $1.62B valuation

   Mercury raised a $120 million Series B led by Coatue, valuing the company at $1.62 billion, with Andreessen Horowitz, CRV, and Sapphire Ventures also participating.

   mercury.com
8. Sep 25, 2019Funding

   Series A — $20M led by CRV

   Mercury raised a $20 million Series A led by CRV with participation from Andreessen Horowitz and more than 100 individual investors, several months after its April 2019 public launch.

   mercury.com
9. 2017Founded

   Mercury founded in San Francisco

   Immad Akhund, Max Tagher, and Jason Zhang founded Mercury in San Francisco in 2017 to build modern banking products for startups, launching business bank accounts in 2019.

   mercury.com