Mercury Completes $200 Million Funding Round Led by TCV

ChainCatcher report: Fintech company Mercury has announced the completion of a new $200 million funding round, led by TCV, with participation from Sequoia Capital, Andreessen Horowitz (a16z), Coatue Management, and others. Mercury primarily provides banking services to startups, serving over 300,000 customers and generating approximately $650 million in annualized revenue. The company stated that the recent surge in AI startups has significantly increased demand for new company registrations and account openings, serving as a key growth driver. Meanwhile, Mercury has also announced it has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) and plans to apply for a federal bank charter to expand its lending capabilities, integrate with payment networks such as Zelle, and reduce reliance on partner banks. The company’s founders stated that their long-term goal remains an independent IPO rather than an acquisition.