Startups and SMBs Want Better Banking so Mercury Raised Another $300 Million to Provide It to Them

“Take a low NPS industry and make it better” was a startup idea trope at one point. Well, it’s kinda true. And financial services has typically been a frustrating product category for startups and SMBs. No longer.

Mercury has seen incredible growth the last few years, providing an increasingly expansive stack of banking tools to over 200,000 customers. And building a durable company these clients can trust. Namely,

• Ten consecutive quarters of profitability based on both EBITDA and GAAP net-income
• $500 million in annual revenue in 2024
• 40% growth in customers year-over-year
• $156 billion in annual transaction volume, up 64% year-over-year.

So it’s not surprising that the venture capital community continues to take notice, most recently leading a $300 million Series C financing for the company.

We’re excited to be small existing investors in Mercury and that the team can now move forward even faster to their full potential.

If you’d like to join a well funded financial software company, they’re hiring.