Financial Technology
Growth stage
Histor. performance: +1500%
Mercury provides banking services for startups: accounts, deposits, corporate cards, transfers, as well as various ways to raise funds. Most recently released new credit corporate card. Through the Mercury platform, startups can raise money for further development from more than 500 venture capital funds, including Bain Capital, a16z, Sequoia, and many others.
Official website: https://mercury.com/
HQ: San Francisco, US
Why invest in Mercury?
Over 80 thousand corporate clients from 200 countries Partnership with 500 venture funds The valuation has grown 16 times up through 2 years
Financial metrics of Mercury
- Total funding: $152m
- Last round: $120m — Series B
- Last round valuation: $1,61 billion
- Last round date: July 2021
- Lead Investors: Andreessen Horowitz, Coatue Management, SV Angel, 500 Startups
Mercury — Investment Opportunity
- Since the Fall of 2020, 635 startups from 32 countries have received $1.7 billion in investments thanks to Mercury. The company plans to double this figure.
- As of September 2022, Mercury serves more than 80,000 corporate clients worldwide which store more than $4 billion in the accounts.
- The company’s clients include Lunchclub, Phantom, Mighty, Linear, and many other technology companies from over 190 countries.
- In September 2022 the company began issuing corporate credit cards, thereby expanding its range of services and diversifying revenue streams.
- Mercury does not identify itself as a bank but as a financial technology company. Banking services are provided through a partnership with Choice Financial Group and Evolve Bank & Trust, a member of the FDIC.
Founders and management of Mercury
Immad Akhund – the founder and CEO, received a master’s degree in computer science from Cambridge, after which he worked at Bloomberg, Clickpass and Y Combinator. He also had a successful experience in building a startup for game developers Heyzap, which was taken over by Fyber.
Jason Jung – co-founder and COO, graduated from Stanford and immediately went to work at Heyzap, where he became a vice president of the company.
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