Mercury Closes $200 Million Funding Round Led by TCV, With a16z and Sequoia Capital

According to ChainCatcher, fintech company Mercury closed a $200 million funding round today, with TCV leading and Sequoia Capital, Andreessen Horowitz, and Coatue Management participating. Mercury provides banking services to startups and serves over 300,000 customers with approximately $650 million in annualized revenue.

The company also announced conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) and plans to apply for a federal banking license to expand lending capabilities, integrate payment networks such as Zelle, and reduce reliance on partner banks.