Mercury Raises $300M Series C at $3.5B Fintech Valuation

Mercury Doubles Valuation to $3.5B

Mercury, the fintech company building banking infrastructure for startups and small businesses, has raised $300 million in a Series C led by Sequoia Capital, doubling its valuation to $3.5 billion. The round cements Mercury's position as one of the most important fintech platforms serving the startup ecosystem.

Banking Infrastructure for the Startup Economy

Mercury provides business banking, treasury management, and financial tools designed specifically for startups, e-commerce companies, and tech-enabled businesses. The platform has differentiated itself through superior user experience, developer-friendly APIs, and features like automated bookkeeping and spend management that go beyond traditional banking. As startups grow, their financial needs expand, and Mercury's platform is designed to grow with them.

Sequoia's Conviction at Scale

The Sequoia-led round at $3.5B valuation reflects both Mercury's revenue growth and the strategic importance of owning the primary banking relationship for the next generation of technology companies. Startup banking creates strong retention and expanding revenue per customer over time, a compounding dynamic that justifies premium valuations for the platforms that win this relationship.