International investment company Raison Asset Management has acquired a stake in the American fintech company Mercury. The transaction occurred in the secondary market, the amount is not disclosed. Mercury was valued at $1.61 billion in its Series B funding round in July 2021. Key investors include Andreessen Horowitz, Coatue, SV Angel and 500 Startups.
Mercury was founded in 2017 in San Francisco. The company provides banking services for startups: accounts, deposits, corporate cards, and money transfers, and also helps them find investors. Through the platform, startups can raise funding from more than 500 venture capital funds, including Bain Capital, a16z, Sequoia and others.
The company serves more than 40,000 corporate clients around the world, which deposited over $4 billion. Clients include Lunchclub, Mighty, Linear and other tech companies from over 190 countries. Immad Akhund, founder and CEO of Mercury, previously built the successful game developer startup Heyzap, which Fyber acquired.
Mercury has been added to the list of fintech companies in the Element Global Technologies Private Portfolio fund, which is managed by Raison Asset Management. In total, the fund has invested in more than 30 companies from fintech, cybersecurity, artificial intelligence, food tech, new materials, and e-commerce markets.