Fintech firm Mercury raises fresh capital targeting AI-driven startups, marking four straight years of profitability.
Mercury raised $200 million in a funding round led by TCV, valuing the company at $5.2 billion. The capital aims to attract AI-native founders as clients amid strong venture funding trends for AI-integrated businesses.
The round included participation from existing investors such as Andreessen Horowitz, Coatue, and Sequoia Capital. Mercury has achieved four consecutive years of GAAP net income and EBITDA profitability, positioning itself against legacy banks.
The firm, which operates through partner banks, received conditional approval in April to establish Mercury Bank as a fully chartered national lender. This would allow direct customer services and integration of payment networks like Zelle.