Fintech Mercury lands $ 300 million in the C series led by Sequoia, and evaluation evaluation to $ 3.5 billion

Digital banking start starting Mercury The company raised $ 300 million of primary and secondary financing with post -money evaluation of $ 3.5 billion.

The evaluation is more than twice the startup evaluation when the last capital – A tour of the B series of $ 120 million In 2021, the company is estimated at $ 1.62 billion after money.

Sikoya led the latest tour – Series C – along with the current supporters, CRV, Andressen Horowitz and new investors Spark Capital and MARATHON. It is the first check written by Sequoia in Mercury since the establishment of the startup in 2017. The increase has increased the total primary and secondary financing from Mercury to $ 500 million. The company refused to break the amount of chain C, which was preliminary, and how high it was with the CEO of Mercury and the co -founder IMMAD Akhund, saying that the “majority” was primary.

He added that Mercury plans to offer a broader offer to employees at a later time.

Akhund also told Techcrunch that the young woman achieved $ 500 million in revenue in 2024, and that it had seen 10 quarters of profitability for each of the Ebitda and GAP.

The company is more than 200,000 companies as customers and claims to have seen 40 % growth year on year. Akhund refused to share revenue numbers from previous years, but indicated that the size of his payment increased by 64 % to 156 billion dollars. The size of its customers, according to Akhund, includes technology companies such as Linear, Phantom, ElevenLabs, investment capital companies, e -commerce companies and a group of small companies.

Mercury launched the company’s first credit card in 2022. Last May, Mercury Techcrunch told her that she was assigning her programs to her bank accounts, giving his customers the ability to pay bills, invoice customers and payment of employees. These additional features Put the company in more direct competition With the likes of Brex and RAMP, two competing competitions that were fighting for years for the market share in An increasingly crowded space.

Akhund said that Mercury would look forward to acquisitions with his new capital. It will also be appointed. Nowadays, Mercury 850 have employees who have growth plans to more than 1000 in 2025.

The startup has been involved drama With the Bank EvolVE Bank & Trust and Startup Baas Cestrate Clamp In recent years. On March 12, Mercury announced that she decided to end her relationship with Evolve and to deport customers to her other banking partners. Akhund told Techcrunch that Mercury stopped sending new clients to evolve in 2022.

The Mercury’s Series C series is believed to be the largest Fintech financing round that has been announced this year. Go publicly.