Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

How EY’s finance transformation team approaches AI strategy

June 28, 2025

Transforming Financial Careers for the Age of AI and Automation

June 28, 2025

Pine Labs, the Fintech Unicorn, Submits DRHP to SEBI for INR 2,600 Crore IPO

June 27, 2025

Kraken, the cryptocurrency exchange, is set to introduce the fintech application Krak.

June 27, 2025
Facebook X (Twitter) Instagram
Trending
  • How EY’s finance transformation team approaches AI strategy
  • Transforming Financial Careers for the Age of AI and Automation
  • Pine Labs, the Fintech Unicorn, Submits DRHP to SEBI for INR 2,600 Crore IPO
  • Kraken, the cryptocurrency exchange, is set to introduce the fintech application Krak.
  • Transformative Role of Generative AI in Banking
  • Strategies for New Graduates to Navigate AI in Their Finance Career Search
  • Schaeffer Investment Research Scholarships Break Through Significant Resistance Levels
  • AI agents target customer relationship management, financial operations, and customer experience tasks.
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    Fintech Company Pine Labs Submits IPO Documents to SEBI for Fundraising, According to Reports

    June 26, 2025

    Breaking News: Initial lineup of demonstrations revealed for FinovateFall 2025

    June 12, 2025

    Fintech Scotland and TSB unveil a new innovation lab initiative.

    June 3, 2025

    OECD Economic Outlook June 2025: The Fintech Executive’s Strategic Playbook

    June 2, 2025

    The impact of the fintech recruitment crisis on job seekers.

    May 28, 2025
  • AI

    How EY’s finance transformation team approaches AI strategy

    June 28, 2025

    Transforming Financial Careers for the Age of AI and Automation

    June 28, 2025

    Transformative Role of Generative AI in Banking

    June 27, 2025

    Strategies for New Graduates to Navigate AI in Their Finance Career Search

    June 27, 2025

    AI agents target customer relationship management, financial operations, and customer experience tasks.

    June 27, 2025
  • Acquisitions

    Acrisure obtains significant funding to enhance its fintech strategy.

    June 14, 2025

    $200 million IPO SPAC aims for acquisitions in fintech and AI sectors.

    June 1, 2025

    Wealthsimple hires multiple teams to enhance family financial management.

    May 31, 2025

    The HPS of Morocco plans to acquire a Fintech company by 2027, referred to as CEO – TradingView News.

    May 3, 2025

    The Challenges of Implementing Central Bank Digital Currencies (CBDCs)

    April 14, 2025
  • Trends

    Key Trends and Focus Areas in Fintech Payments for 2025

    June 22, 2025

    Overview of the Singapore Fintech Market: Market Size, Trends, and Growth Potential

    June 18, 2025

    Southeast Asia’s Fintech Market: Size, Trends, and Growth Potential

    June 13, 2025

    Irish fintech remains on a remarkable growth trajectory, contrary to global trends.

    June 12, 2025

    The Irish fintech sector is thriving and surpassing global trends.

    June 9, 2025
  • Insights

    Schaeffer Investment Research Scholarships Break Through Significant Resistance Levels

    June 27, 2025

    Finance Magnates Reports: XBO Designated as Top Cryptocurrency Payment Gateway. XBO’s core principles of trust and simplicity align with cutting-edge solutions, providing customers access to an award-winning crypto payment option. 16 hours ago

    June 26, 2025

    Fintech Bank competes with HSBC and Lloyds in the current account market.

    June 24, 2025

    Netcapital’s Nasdaq acquisition of a web3-based free gaming platform without mixing code

    June 19, 2025

    Ali Kassab and Freedom PSP: Unraveling the Myths of Fintech

    June 19, 2025
  • Rumors

    The Giant Fintech Green Point Captivates Investment Capital Interest

    June 25, 2025

    Chinese Ant Group refutes speculation about a partnership with Rwa and Stablecoin.

    June 20, 2025

    Tua Tagovailoa Trade Speculation: Miami Dolphins May Pursue QB Negotiations After 2025 Season if Playoff Aspirations Fall Short | NFL News

    June 16, 2025

    Paraphrase the title from the Circle files regarding the IPO for the Bank.

    June 7, 2025

    Toncoin achieves $1 billion in trading volume as Visa executive joins and Musk speculation grows

    June 4, 2025
  • Startups

    Pine Labs, the Fintech Unicorn, Submits DRHP to SEBI for INR 2,600 Crore IPO

    June 27, 2025

    Kraken, the cryptocurrency exchange, is set to introduce the fintech application Krak.

    June 27, 2025

    Ukrainian Fintech Startup Spensbase Introduces Its Own Digital Bank and Virtual Card Services

    June 27, 2025

    Fintech Company Republic Provides Investors with Opportunities in Tokenized Space Initiatives

    June 27, 2025

    Milan-based fintech startup Sibill completes a €12 million funding round.

    June 26, 2025
  • finjobsly
fintechbits
Home » Fintech Mercury secures $300 million in Series C funding led by Sequoia, doubling its valuation to $3.5 billion.
Breaking News

Fintech Mercury secures $300 million in Series C funding led by Sequoia, doubling its valuation to $3.5 billion.

2 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
Fintech mercury secures $300 million in series c funding led
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Mercury Raises $300 Million, Surpassing $3.5 Billion Valuation

The digital banking startup Mercury has secured $300 million in both primary and secondary funding, elevating its post-money valuation to an impressive $3.5 billion, the company confirmed.

Significant Fundraising Milestone

This latest funding round has more than doubled Mercury’s valuation from its previous funding round, where it raised $120 million in a Series B funding in 2021, achieving a valuation of $1.62 billion.

Investors and Funding Details

Sequoia Capital led the Series C funding round, joined by existing investors such as CRV and Andreessen Horowitz, along with new participants Spark Capital and Marathon. This marks Sequoia’s first investment in Mercury since its inception in 2017. The recent funding has brought the total capital raised by Mercury to $500 million.

Impressive Growth Metrics

Mercury’s CEO and co-founder, Immad Akhund, shared that the startup anticipates reaching $500 million in revenue by 2024. The company has reported 10 consecutive quarters of profitability in both EBITDA and GAAP net income. With over 200,000 businesses as clients, Mercury has experienced a remarkable 40% growth in its customer base.

Innovative Products and Competition

In 2022, Mercury launched its first business credit card and introduced software tools that enable clients to pay invoices, generate invoices for customers, and reimburse employees seamlessly. These features position Mercury as a formidable competitor against established fintech players like Brex and Ramp.

Future Plans and Expansion

Mercury has plans to launch a public banking product later in 2024, which was first announced in April. Akhund indicated intentions to explore acquisitions with the newly raised capital and to expand the workforce, aiming to increase their employee count from 850 to over 1,000 by 2025.

Challenges and Changes in Partnerships

Recently, Mercury faced challenges with their partner bank, Evolve Bank & Trust. On March 12, the company announced its decision to end its partnership with Evolve and transition customers to other banking partners. Akhund disclosed that they halted onboarding new clients with Evolve back in 2022.

A Year of Notable Fintech Growth

The Series C round for Mercury is expected to be one of the largest fintech funding rounds of the year, coinciding with the upcoming public listing preparations of Klarna. This dynamic funding environment reflects the growing interest in digital banking solutions.

Note: This article has been updated to include additional insights and comments from CEO Immad Akhund.

billion doubling Fintech funding led Mercury million secures Sequoia Series valuation
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Fintech Company Pine Labs Submits IPO Documents to SEBI for Fundraising, According to Reports

June 26, 2025

Breaking News: Initial lineup of demonstrations revealed for FinovateFall 2025

June 12, 2025

Fintech Scotland and TSB unveil a new innovation lab initiative.

June 3, 2025
Leave A Reply Cancel Reply

Latest news

How EY’s finance transformation team approaches AI strategy

June 28, 2025

Transforming Financial Careers for the Age of AI and Automation

June 28, 2025

Pine Labs, the Fintech Unicorn, Submits DRHP to SEBI for INR 2,600 Crore IPO

June 27, 2025
News
  • AI in Finance (1,306)
  • Breaking News (152)
  • Corporate Acquisitions (64)
  • Industry Trends (176)
  • Jobs Market News (290)
  • Market Insights (188)
  • Market Rumors (239)
  • Regulatory Updates (149)
  • Startup News (865)
  • Technology Innovations (151)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (1,306)
  • Breaking News (152)
  • Corporate Acquisitions (64)
  • Industry Trends (176)
  • Jobs Market News (290)
  • Market Insights (188)
  • Market Rumors (239)
  • Regulatory Updates (149)
  • Startup News (865)
  • Technology Innovations (151)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2025 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.