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Mercury

mercury.comadded 2026-09-02
A rare profitable fintech unicorn: ~$650M annualized revenue paired with multiple consecutive GAAP-profitable quarters — growth is not subsidized by burn

Worth-Joining Index · Scorecard

v2.1 ALPHA · 2026-08

Career Score

75/100

Coverage

76%

Verified

0%

Stage cohort

Late

Vibe Check

🎪 community voting coming soon

Momentum
4/4
Efficiency
9.4/12
Backing
7.2/8
Market
7.7/11
Product
8.8/11
Upside
9.2/16

Latest valuation

$5.2B (Series D, 2026-05)

Series D · 2026-05

年化收入

~$650M annualized revenue

Total raised

~$700M total primary and secondary funding (as of 2026-05)

as of 2026-05
金融科技创企银行Founded · 2017Stage · Growth (Series D)HQ · San Francisco

Traction · Key numbers

年化收入~$650M annualized revenue (2025-Q3)Company's own blog post; stated as '$650M annualized revenue, as of Q3 2025' Company-claimedas of 2025-09
Valuation paceValuation climbed from $3.5B to $5.2B in 14 months Company-claimedas of 2026-05
Customers300,000+ companies Company-claimedas of 2025-10
ProfitabilityMultiple consecutive quarters of GAAP profitability Company-claimedas of 2025-10

Funding

Total raised

~$700M total primary and secondary funding (as of 2026-05)

Rounds

2

Valuation pace

$3.5B to $5.2B in 14 months

D

$200M

Series D · 2026-05 · valuation $5.2B post (Series D, 2026-05) · led by TCV

With: Andreessen Horowitz, Coatue, CRV, Sequoia Capital, Sapphire Ventures, Spark Capital · Valuation up ~49% in 14 months since the Series C

C

$300M

Series C · 2025-03 · valuation $3.5B post · led by Sequoia Capital

With: Coatue, CRV, Andreessen Horowitz, Spark Capital, Marathon · Sequoia's first investment in Mercury since its 2017 founding

A rare profitable fintech unicorn: ~$650M annualized revenue paired with multiple consecutive GAAP-profitable quarters — growth is not subsidized by burn

Valuation climbed from $3.5B to $5.2B in 14 months, with TCV leading the Series D after Sequoia led the C — sustained backing from top-tier investors

Fast fundraising pace, but revenue growth roughly tracks valuation growth, keeping bubble risk relatively contained

Founders

Immad Akhund CEO

Previously co-founded and led Heyzap, a mobile developer tools company sold for ~$45M in 2016

Jason Zhang COO

Co-founder and COO of Mercury

Max Tagher CTO

Co-founder and CTO of Mercury

Reality · Working here

H1B / PERMUnknown
Remote policyUnknown
Comp modelUnknown
GlassdoorUnknown — work here? Help us fill this in →
Equity liquidityUnknown
Hiring statusUnknown

Signals & Risks

CompetitorsBrexRampRho
ValuationValuation rose from $3.5B to $5.2B in just 14 months, raising the bar for future growth
CompetitionIntense competition in startup banking/spend management from players like Brex and Ramp for the same customer base
RegulatoryAs a non-bank relying on partner banks for banking services, Mercury carries dependency and regulatory-compliance risk tied to those partnerships

Editorial ✎

Good fit for

· Fintech infra / compliance engineers — bank-partner relationships, risk controls and money movement are Mercury's real technical hard problems, not surface UI

· People who want to join a late-stage company with a proven profitable model — this isn't a burn-to-grow story, the pace is steadier

· Product people who empathize with startup financial pain points — Mercury's customers are founders like themselves, so product intuition transfers easily

Not for

· People chasing early-stage 0-to-1 chaos — Mercury's product line is already mature; work is mostly refinement and scaling

· Those uncomfortable with regulated-industry pace — bank partnerships and compliance review slow down many decisions

Ask in the interview

1. Mercury isn't a chartered bank itself — how is the risk from its bank-partner relationships managed? Has a partner bank ever changed or been disrupted?

2. Facing price wars and feature races from Brex, Ramp and others in the same space, what specifically is Mercury's moat?

3. Valuation rose ~50% in 14 months — what growth/profitability bar does that imply for the next round?

Data changelog

Community corrections → editorial review → applied, fully on the record

2026-09-02
累计融资额 filled in as ~$700M total primary and secondary funding (as of 2026-05)

data as of 2026-05 · Source: Crunchbase News

~ 3rd-party estimate
2026-09-02
最近一轮领投机构 filled in as TCV

data as of 2026-05 · Source: Mercury blog (Series D announcement)

Publicly verifiable
2026-09-02
最近一轮估值 filled in as $5.2B post (Series D, 2026-05)

data as of 2026-05 · Source: Mercury blog / BusinessWire

Publicly verifiable
2026-09-02
ARR / 年化收入 filled in as ~$650M annualized revenue (2025-Q3)

data as of 2025-09 · Source: Mercury blog (Series D announcement)

Company-claimed
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