Mercury Raises $200M Series D Led By TCV At $5.2B Valuation With Major Investors

Mercury raised a $200M Series D at a $5.2B valuation, led by TCV with participation from Sequoia Capital, Andreessen Horowitz, Coatue Management, CRV, Sapphire Ventures, and Spark Capital. The company said it is profitable and has been for four years, with $650M in annualized revenue in Q3 last year, and noted accelerating demand as applications rose 2.5x in Q1 2026 versus Q1 2025. Mercury framed the raise as fueling expansion of its business banking platform and new AI-driven tools, including “Mercury Command,” which aims to let users execute end-to-end financial tasks through natural language instead of manual workflows. The company positioned the round as a bet on a wave of new business formation driven by AI, as it scales beyond traditional banking tools into an operating system for startups.

FOUNDERS: Immad Akhund, Max Tagher & Jason Zhang

INVESTORS: TCV, Sequoia Capital, Andreessen Horowitz, Coatue Management, CRV, Sapphire Ventures & Spark Capital

ROUND: Series D AMOUNT: $200,000,000 VALUATION: $5,200,000,000

HQ: San Francisco, California

#VentureCapital #Mercury #ImmadAkhund #MaxTagher #JasonZhang #TradedVC