Wallets/mercury
Mercury
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Overview
Mercury is American fintech company providing banking services to start-up companies and small businesses + ~200,000 companies and individuals served + 75 NPS (vs 34 industry average) + used by more than half of all Y Combinator cohorts + $5.2B valuation post-May 2026 $200M Series D [1, 2, us-cro]. 2025 baseline: Mercury ~200,000 companies and individuals served (up from ~100,000 businesses in April 2024); 75 NPS (vs 34 industry average) distinctive US business banking customer satisfaction excellence; Used by more than half of all Y Combinator cohorts distinctive US startup banking ecosystem dominance; Mar 2025 $300M Series C at $3.5B valuation led by Sequoia Capital + May 2026 $200M Series D at $5.2B valuation distinctive US business banking fintech valuation milestones.
Distinctive Mercury positioning:
- American fintech company providing banking services to start-up companies and small businesses (mercury.com; Mercury Technologies Inc.)
- ~200,000 companies and individuals served distinctive US business banking fintech scale (doubled from April 2024 ~100,000 businesses)
- 75 NPS (vs 34 industry average) distinctive US business banking customer satisfaction excellence
- Used by more than half of all Y Combinator cohorts distinctive US startup banking ecosystem dominance
- $5.2B valuation post-May 2026 $200M Series D distinctive US business banking fintech valuation
- Mar 2025 $300M Series C at $3.5B valuation led by Sequoia Capital with participation from Spark Capital + Marathon + Coatue + CRV + Andreessen Horowitz distinctive US business banking fintech investor base
- <40% Mercury customer base startups + 2nd largest customer base ecommerce companies followed by accounting firms and VC funds (May 2024) distinctive US business banking diversified customer base
- Mercury makes consumer banking push 2025 distinctive US business banking fintech consumer banking expansion
History
2017 — Mercury founded by Immad Akhund + Max Tagher + Jason Zhang as US business banking fintech.
2019 — Mercury mobile app launches as US business banking fintech.
Apr 2024 — Mercury ~100,000 businesses served.
Mar 2025 — Mercury $300M Series C at $3.5B valuation led by Sequoia Capital with participation from Spark Capital + Marathon + Coatue + CRV + Andreessen Horowitz distinctive US business banking fintech investor base.
2025 — Mercury makes consumer banking push distinctive US business banking fintech consumer banking expansion + Mercury ~200,000 companies and individuals served (doubled from April 2024 ~100,000 businesses) + 75 NPS (vs 34 industry average) + Used by more than half of all Y Combinator cohorts [1, 2].
May 2026 — Mercury $200M Series D at $5.2B valuation [3].
Ownership & operator
Operating entity: Mercury Technologies Inc. (privately-held; $5.2B valuation post-May 2026 $200M Series D).
Major shareholders: Immad Akhund (co-founder + CEO) + Max Tagher (co-founder) + Jason Zhang (co-founder) + Sequoia Capital + Spark Capital + Marathon + Coatue + CRV + Andreessen Horowitz + venture capital investors.
Regulators: FDIC + OCC (via partner banks Choice Financial Group + Evolve Bank & Trust + Column N.A.).
Technical integration
Mercury mobile app (iOS) + mercury.com online + Mercury Visa debit card + Mercury IO Card + Mercury Credit Card; ACH + RTP + Fedwire + SWIFT; US fintech using partner-issued banking model via Choice Financial Group + Evolve Bank & Trust + Column N.A. distinctive US business banking fintech BaaS model + Mercury makes consumer banking push 2025 distinctive US business banking fintech consumer banking expansion.
Users & growth
2025: Mercury ~200,000 companies and individuals served (doubled from April 2024 ~100,000 businesses) + 75 NPS (vs 34 industry average) + Used by more than half of all Y Combinator cohorts.
Use cases
US retail + private + business + startup + small business + ecommerce + accounting firms + VC funds + consumer banking (post-2025 consumer banking push) via Mercury mobile + mercury.com online + Visa debit card + Mercury IO Card + Mercury Credit Card; ACH + RTP + Fedwire + SWIFT; US fintech using partner-issued banking model via Choice Financial Group + Evolve Bank & Trust + Column N.A. distinctive US business banking fintech BaaS model.
Implementations & partners
Operator: Mercury Technologies Inc. (privately-held; $5.2B valuation post-May 2026 $200M Series D); Immad Akhund (co-founder + CEO) + Max Tagher (co-founder) + Jason Zhang (co-founder) + Sequoia Capital + Spark Capital + Marathon + Coatue + CRV + Andreessen Horowitz + venture capital investors.
Partner banks: Choice Financial Group + Evolve Bank & Trust + Column N.A. distinctive US business banking fintech BaaS model.
Major US business banking + startup banking + spend management competitors: [[brex]] (US business banking + corporate card startup; ~25,000 businesses; $700M annualized revenue + Capital One $5.15B acquisition; peak $12.3B valuation 2022) + [[ramp]] (US business spend management startup; ~50,000+ customers + 2,200+ enterprise customers; $1B+ annualized revenue + $32B valuation Nov 2025 + talks for $750M raise at $40B+ valuation May 2026) + [[novo]] (US business banking fintech for SMBs) + [[bluevine]] (US business banking fintech for SMBs) + [[lili-bank]] (US business banking fintech for freelancers + small business) + [[grasshopper-bank]] (US business banking + nationally chartered banking for startups) + [[silicon-valley-bank]] (US SVB; First Citizens BancShares post-Mar 2023 collapse acquisition).
Regulators: FDIC + OCC (via partner banks).
Fun facts
- American fintech company providing banking services to start-up companies and small businesses (mercury.com; Mercury Technologies Inc.).
- ~200,000 companies and individuals served distinctive US business banking fintech scale (doubled from April 2024 ~100,000 businesses).
- 75 NPS (vs 34 industry average) distinctive US business banking customer satisfaction excellence.
- Used by more than half of all Y Combinator cohorts distinctive US startup banking ecosystem dominance.
- $5.2B valuation post-May 2026 $200M Series D distinctive US business banking fintech valuation.
- Mar 2025 $300M Series C at $3.5B valuation led by Sequoia Capital with participation from Spark Capital + Marathon + Coatue + CRV + Andreessen Horowitz distinctive US business banking fintech investor base.
- <40% Mercury customer base startups + 2nd largest customer base ecommerce companies followed by accounting firms and VC funds (May 2024) distinctive US business banking diversified customer base.
- Mercury makes consumer banking push 2025 distinctive US business banking fintech consumer banking expansion.
Comparison
| Feature | Mercury | [[brex]] (US business banking + corporate card startup rival; ~25,000 businesses) | [[ramp]] (US business spend management startup rival; ~50,000+ customers) | [[novo]] (US business banking fintech for SMBs rival) | [[bluevine]] (US business banking fintech for SMBs rival) |
|---|---|---|---|---|---|
| Operator | Mercury Technologies Inc. (privately-held; $5.2B valuation post-May 2026 $200M Series D) | Brex Inc. (privately-held; pre-Capital One $5.15B acquisition; peak $12.3B valuation 2022) | Ramp (privately-held; $32B valuation Nov 2025) | Novo Platform Inc. (privately-held) | BlueVine Capital Inc. (privately-held; Coatue + Lightspeed + 83North investors) |
| Type | ~200,000 companies and individuals served + 75 NPS (vs 34 industry average) + Used by more than half of all Y Combinator cohorts + $5.2B valuation post-May 2026 $200M Series D + Mercury makes consumer banking push 2025 | ~25,000 businesses + $700M annualized revenue + Q1 2025 enterprise revenue grew 70% + enterprise net revenue retention exceeded 130% + operating-cash-flow positive Oct 2025 + Capital One $5.15B acquisition (58% contraction from 2021 peak $12.3B valuation) | ~50,000+ customers + 2,200+ enterprise customers (+133% YoY) + $1B+ annualized revenue + $100B+ annual purchase volume + $32B valuation Nov 2025 + talks for $750M raise at $40B+ valuation May 2026 | US business banking fintech for SMBs | US business banking fintech for SMBs + Coatue + Lightspeed + 83North investors |
| Country | US | US | US | US | US |
| Distinctive | 2017 Mercury founding by Immad Akhund + Max Tagher + Jason Zhang; 2019 Mercury mobile app launch; Apr 2024 ~100,000 businesses; Mar 2025 $300M Series C at $3.5B valuation led by Sequoia Capital; 2025 ~200,000 companies and individuals served + 75 NPS + Used by more than half of all Y Combinator cohorts; May 2026 $200M Series D at $5.2B valuation | 2017 Brex founding by Henrique Dubugras + Pedro Franceschi; 2021 peak $12.3B valuation; Capital One $5.15B acquisition announced | 2019 Ramp founding by Eric Glyman + Karim Atiyeh + Gene Lee; $32B valuation Nov 2025 led by Lightspeed Venture Partners; talks for $750M raise at $40B+ valuation May 2026 | 2016 Novo founding | 2013 BlueVine founding |
Status
Active, ~200,000 companies and individuals served + 75 NPS (vs 34 industry average) + Used by more than half of all Y Combinator cohorts + $5.2B valuation post-May 2026 $200M Series D [1, 2, 3]:
- Mercury Technologies Inc. (privately-held; $5.2B valuation post-May 2026 $200M Series D) since 2017 Mercury founding by Immad Akhund + Max Tagher + Jason Zhang + 2019 Mercury mobile app launch + Mar 2025 $300M Series C at $3.5B valuation led by Sequoia Capital + May 2026 $200M Series D at $5.2B valuation.
- Mercury ~200,000 companies and individuals served.
- Mercury makes consumer banking push 2025.
- FDIC + OCC regulated (via partner banks Choice Financial Group + Evolve Bank & Trust + Column N.A.).
Sources
- 1 Business-focused fintech Mercury makes consumer banking push — American Banker
- 2 Mercury Technologies — Wikipedia
- 3 Report: Mercury Business Breakdown & Founding Story — Contrary Research
- us-cro In-corpus:
reports/countries/US-united-states.md
Source
Biography extracted from mercury.md. See matrix.md for standards-support matrix if present.