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Mercury Stock (MERC)
Financial Infrastructure for Businesses
Mercury is a financial technology company that provides banking services specifically tailored for startups and small businesses.
About Mercury Stock
Founded
2017
Headquarters
San Francisco, CA, US
Total Funding
209M
Industries
Financial Services, Lending and Investments, Information Technology
Mercury is an online bank that provides business banking services specifically tailored for startups and small businesses. The company offers FDIC-insured bank accounts through partnerships with traditional banks and provides financial tools such as corporate credit cards, expense management and software APIs.Â
Mercury was founded in 2019 by Immad Akhund and is headquartered in San Francisco. Notable investors include Coatue, CRV, and Andreessen Horowitz.
Mercury Press Mentions
Stay in the know about the latest news on Mercury
OOHMAA announces 2024 winners of The Speccies
stoppress • Mar 12, 2025
6 Best Banks for Small Business Loans in 2025
techrepublic • Mar 07, 2025
Mercury sees average 9.7% power price rise from April
nzherald • Feb 25, 2025
Sequoia in Talks to Lead Mercury Funding at Over $3 Billion Valuation
bloomberg • Feb 13, 2025
10 biggest African tech stories of 2024
thecondia • Dec 24, 2024
Investors in Mercury
Discover investors in Mercury stock and explore their portfolio companies
Mercury Management
Leadership team at Mercury
CEO & Founder
Immad Akhund
COO, Co-Founder
Jason Zhang
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Mercury Key Facts
- Mercury has experienced strong financial growth evidenced by the company reportedly reaching $500M in annualized revenue and generating around $40M in revenue per month. This revenue growth can be attributed to the diverse revenue streams that Mercury has. These include fees that merchants pay when customers use Mercury cards, interest income from customers' cash and fees from processing international transactions, providing access to debt financing and managing cash on behalf of customers. Mercury also sells subscription software which allows the company to generate a consistent stream of revenue from customers and ensure future financial stability.
- Mercury has the opportunity to expand into new segments of the market and acquire customers beyond VC-backed startups. Potential customer segments could include Web3 customers, consulting firms and real estate agencies. This could help Mercury continue to grow its TAM and solidify its position as industry leader.
- Mercury is committed to product innovation and streamlining financial operations and internally declared that 2024 was the "year of product launches". The company launched 4 major products for businesses — bill pay, invoicing, accounting automations, and employee expense management. Mercury also expanded into the consumer space with the launch of Mercury Personal while also strengthening its core banking infrastructure and experience. Mercury is therefore committed to innovation and product expansion which will help position the company as the market leader in personal banking.
- Mercury has faced scrutiny from banking regulators who have concerns over the fact that Mercury does not have their own banking licenses to handle deposits and process payments. Because of this banking regulators such as the Federal Deposit Insurance Corp chastised a banking partner of Mercury, Choice Bank for opening Mercury accounts in legally risky countries. If regulators futher clamp down on fintechs it could negatively affect Mercury's operations and growth prospects.
- Since Mercury is not a chartered bank, it relies on partnerships and have built Mercury with a partner bank business model. Mercury currently partners with multiple US-based, FDIC-insured partner banks including Choice Financial Group, Column N.A. and Evolve Bank & Trust. Because Mercury depends on these partner banks, any changes in the financial situations or operations of these banks could negatively impact Mercury.
- The fintech sector is highly competitive and subject to market fluctuations which could negatively impact Mercury's financial stability and growth. Mercury faces competition from incumbent banks like First Republic and fintechs such as Brex, Rho, Novo, and Ramp. Many customers might switch to a larger more established bank due to concerns about the stability of a startup bank such as Mercury which could inhibit their growth prospects.
Trading Mercury Stock
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