Mercury's latest funding round values it at $5.2 billion

Fintech firm Mercury said on Wednesday it had raised $200 million at a valuationof $5.2 billion in its latest ‌funding round, ⁠led ⁠by investment firm TCV.

The ​round also saw participation from existing ​investors such Andreessen Horowitz, Coatue, CRV, Sapphire Ventures, Sequoia ​Capital and Spark ⁠Capital.

It follows ‌the company's conditional approval from the Office ⁠of the Comptroller of the Currency to establish Mercury Bank, a national lender that would enable it to offer services directly to customers under full ‌federal oversight.


The company, which was set up ​to ​serve ⁠technology startups, also said it has achieved four consecutive years of profitability on ​a GAAP net income as well as EBITDA basis.