Mercury, a fintech firm that provides banking services to startups, has raised $200 million in funding at a $5.2 billion valuation, CNBC has learned exclusively.
That valuation is 49% higher than the San Francisco-based company's previous funding round just 14 months ago, bucking the downturn facing much of the fintech sector.
The Series D round was led by venture firm TCV — backer of other well-k...
Mercury’s $200 million funding round and regulatory progress present a compelling narrative of resilience in a fintech sector otherwise grappling with valuation corrections and operational failures. The strongest version of this story highlights Mercury’s ability to thrive by catering to a niche—early-stage startups—while leveraging AI-driven tools to enhance user experience. The company’s profitability and revenue growth, coupled with its conditional banking charter, suggest a strategic pivot t...