<p><strong>SAN FRANCISCO</strong> &#8212; <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fmercury.com%2F&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=Mercury&;index=1&;md5=1068847652a9d51173043b9e344ad678" target="_blank" rel="nofollow noopener" shape="rect">Mercury</a>, a banking platform used by over 200,000 companies, has announced a $300 million Series C investment round. The round, led by new investor <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fwww.sequoiacap.com%2F&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=Sequoia+Capital&;index=2&;md5=788a04505fdee84121e8697848588a61" target="_blank" rel="nofollow noopener" shape="rect">Sequoia Capital</a>, includes primary and secondary funding and values Mercury at $3.5 billion post-money, more than double its previous Series B valuation of $1.6 billion in 2021. Other new investors include <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fwww.sparkcapital.com%2F&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=Spark+Capital&;index=3&;md5=61f24e7d8724ec16081eba33376e83be" target="_blank" rel="nofollow noopener" shape="rect">Spark Capital</a> and <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fmarathonmp.com%2F&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=Marathon&;index=4&;md5=cdcf82854b442b34040dbfe308f59dad" target="_blank" rel="nofollow noopener" shape="rect">Marathon</a> as well as participation from existing investors <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fwww.coatue.com%2F&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=Coatue&;index=5&;md5=0cc87c6acdbf1a06bfb5a3c82c5dafec" target="_blank" rel="nofollow noopener" shape="rect">Coatue</a>, <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fwww.crv.com%2F&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=CRV&;index=6&;md5=d62830baac65a5d4d6baac7e61ac106b" target="_blank" rel="nofollow noopener" shape="rect">CRV</a>, and <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fa16z.com%2F&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=Andreessen+Horowitz&;index=7&;md5=f4e69a0ff0dde7de469f5d7ac633b20c" target="_blank" rel="nofollow noopener" shape="rect">Andreessen Horowitz</a>.</p>
<p>“Mercury began with the vision that banking should do more than safely hold money – it should bring all the ways people and businesses use money into a single product that feels extraordinary to use,” <b>said Immad Akhund, co-founder and CEO of Mercury.</b></p>
<p>Mercury’s execution of that vision has driven profitability and growth for the company. For the first time, Mercury is announcing key financial and growth milestones, including:</p>
<ul class="bwlistdisc">
<li><b>Ten</b> consecutive quarters of profitability based on both EBITDA and GAAP net-income</li>
<li><b>$500 million </b>in revenue in 2024</li>
<li><b>40%</b> growth in customers year-over-year</li>
<li><b>$156 billion </b>in annual transaction volume, up 64% year-over-year</li>
</ul>
<p>“We’ve continued to increase our profitability while maintaining a strong balance sheet,” <b>said Akhund</b>. “This round is about seizing the opportunities ahead for our next phase of growth, including driving innovation with new products, exploring acquisitions, and ensuring long-term financial flexibility.”</p>
<p>The foundation of Mercury’s product is a powerful bank account. Bank accounts are the nucleus of business finance: payroll, accounts receivable and payable, credit cards, taxes, financial reporting, cash flow forecasting, and many other critical workflows start and end with the bank account. For too long, businesses have been forced to use multiple financial tools that have to connect to the bank account but aren’t integrated with each other.</p>
<p>Mercury believes that when businesses manage their finances through a single product built from a powerful bank account, they can operate at their best and focus on what matters most: building a successful company.</p>
<p>Since its Series B in 2021, Mercury has taken significant steps toward its vision that banking should do more than safely hold money. After introducing its first <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fmercury.com%2Fcredit&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=corporate+credit+card&;index=8&;md5=55b2fc72e28aa5cb1995fd6fd27cd1c7" target="_blank" rel="nofollow noopener" shape="rect">corporate credit card</a> in 2022, it has now become the most used corporate card among Mercury customers. In 2024, Mercury launched financial software to help businesses <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fmercury.com%2Fbill-pay&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=pay+bills&;index=9&;md5=3d973d971a172bd74b7de78177fbaf51" target="_blank" rel="nofollow noopener" shape="rect">pay bills</a>, send <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fmercury.com%2Finvoicing&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=invoices&;index=10&;md5=99cd965016c955b5dd16c42f12808f52" target="_blank" rel="nofollow noopener" shape="rect">invoices</a>, <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fmercury.com%2Faccounting-automations&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=automate+accounting&;index=11&;md5=6636e58e66433119ba5976c15e5a5bf7" target="_blank" rel="nofollow noopener" shape="rect">automate accounting</a>, and manage <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fmercury.com%2Fexpense-management&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=employee+expenses&;index=12&;md5=270b93bbb8ecc71a935ad2b89bd80287" target="_blank" rel="nofollow noopener" shape="rect">employee expenses</a>. It also expanded into the consumer space with the launch of <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fmercury.com%2Fpersonal-banking&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=Mercury+Personal&;index=13&;md5=a13faffba34061c7fa28abf5756a192f" target="_blank" rel="nofollow noopener" shape="rect">Mercury Personal</a>.</p>
<p>Mercury serves more than 200,000 companies across a variety of industries – from tech startups like <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Flinear.app%2F&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=Linear&;index=14&;md5=fc1dadfa01d69196fdf6de5144cf4fbf" target="_blank" rel="nofollow noopener" shape="rect">Linear</a><a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Flinear.app%2F&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=%2C&;index=15&;md5=e80e1d5bc8439b8ec87eaf093e619148" target="_blank" rel="nofollow noopener" shape="rect">,</a> <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fphantom.com%2F&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=Phantom&;index=16&;md5=98869979a50c56c6725f93e6ad5c0c28" target="_blank" rel="nofollow noopener" shape="rect">Phantom</a>, and <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Felevenlabs.io%2F&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=ElevenLabs&;index=17&;md5=181eddb51081b92c6f6099f2df92d2ee" target="_blank" rel="nofollow noopener" shape="rect">ElevenLabs</a> to venture capital firms, e-commerce companies like <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fcocolab.com%2F%3Fsrsltid%3DAfmBOorgteWEBIniTIhkcPgD_zX0W_4FYEfKYq5kzRAui-wnNxy45GLW&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=Cocolab&;index=18&;md5=c67ee72d4fc6f93ccf672ea2a1ae19d8" target="_blank" rel="nofollow noopener" shape="rect">Cocolab</a> and <a href="https://cts.businesswire.com/ct/CT?id=smartlink&;url=https%3A%2F%2Fbogeybros.co%2F%3Fsrsltid%3DAfmBOopXYaMWqwUx7f5hbFtT39P3pBAxp_cGe7sdxhkIhm8FD2ZVP0Y-&;esheet=54228879&;newsitemid=20250326427283&;lan=en-US&;anchor=Bogey+Bros&;index=19&;md5=808a5059460795116812ffb7f00b5b61" target="_blank" rel="nofollow noopener" shape="rect">Bogey Bros</a>, and a range of small businesses – who rely on Mercury to operate at their best.</p>
<p>“Mercury is a disruptive company with a bold vision for the future of banking,” said <b>Sonya Huang, partner, Sequoia Capital</b>. “It has been synonymous with banking for startups, but Mercury is built for nearly every business and is a real competitor to legacy banks. With its track record of profitability, innovation, operational excellence, and clear vision for what banking can become, I believe that Mercury has a chance to be a generational company at the intersection of financial services and software.”</p>

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