TLDR Tech / Fintech
Fintech firm Mercury hits $5.2 billion valuation after funding round, up 49% in 14 months
Mercury raised $200 million at a $5.2 billion valuation in a TCV-led Series D, with participation from Sequoia, Andreessen Horowitz, and Coatue. The startup banking platform now has more than 300,000 customers, $650 million in annualized revenue, four years of profitability, and conditional OCC approval to become a federally regulated bank, which could let it expand lending, join Zelle, and reduce reliance on partner banks.
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