Mercury Stock: The Hottest Banking App in Fintech?
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Table of Contents
Notable Mercury News
02/06/2026: Mercury Annual Letter 2025
12/19/2025: Mercury applies for OCC bank charter
11/07/2025: Mercury, valued at $3.5 billion
03/25/2025: Announcing our $300M Series C
Older news…
About Mercury
Mercury is a fintech startup that builds banking tools for startups and technology-focused businesses.
Founded in 2017 by Immad Akhund, Jason Zhang, and Max Tagher, the company launched after Akhund grew frustrated with the clunky, outdated banking experience he encountered while running earlier ventures.
The startup is headquartered in San Francisco, though it currently operates as a remote-first company with no central office.
Its core products include business checking and savings accounts built around a clean, developer-friendly interface, with treasury management, venture debt, and a corporate card rounding out its financial stack.
The name Mercury evokes the Roman god of messengers, commerce, and financial gain, which fits the brand’s pitch to fast-moving founders.
In a crowded startup fintech space that includes Brex, Ramp, the emerging Erebor, and traditional banks, Mercury has found a niche customer by combining a streamlined user interface and services infrastructure tailored for early-stage companies.
With over 100,000 startups on its platform, Mercury is well-positioned to grow as the startup economy expands and more founders reject legacy banking.
Mercury is not a bank, but has applied for a bank charter through the Office of the Comptroller of the Currency (OCC).
It partners with Choice Financial Group and Column N.A. (Members FDIC) for banking services and FDIC deposit insurance.
Ownership
Mercury is a venture-backed startup owned by its founders, employees, and multiple venture capital firms.
Notable venture capital investors include Andreessen Horowitz, CRV, Naval Ravikant, Coatue, SV Angel, Serena Ventures, Zeno Ventures, Scott Belsky, Ryan Petersen (Flexport), Rahul Vohra, Akshay Kothari (Notion) Clocktower Ventures, Elad Gil, Nick Jonas, Phil McIntyre, Larry Fitzgerald, Thirty Five Ventures, Sapphire Ventures, Jack Altman, Dylan Field (Figma), Wefunder + Crowdfunding Investors, Hustle Fund, Satya Patel, Sequoia Capital, Spark Capital, and Quiet Capital.
Funding Rounds
| Round | Date | Est. Valuation | Raise Amount | Price |
|---|---|---|---|---|
| Series C | 01/13/26 | $14.0B | $1.4B | $64.95 |
| Series B | 04/29/25 | $4.5B | $230.0M | $23.45 |
| Series A | 07/08/24 | $1.5B | $300.0M | $8.28 |
| Seed | 12/03/18 | NA | $6.0M | NA |
| Source: Caplight |
Valuation
The latest confirmed Mercury valuation is $3.5 billion based on the March 2025 Series C funding round.
Monitor the Hiive secondary marketplace for an updated valuation and to find share availability.
IPO Potential
A Mercury IPO has not been raised by company leadership in public comments.
CEO Immad Akhund has acknowledged IPO excitement in the fintech space, citing the Chime and Circle IPOs, but has not directly stated Mercury’s public ambitions.
Access IPOs anticipates Mercury must raise at least one more round before moving toward a public offering.
An S-1 filing is the most accurate sign that an IPO may be forthcoming. The intent to move forward with an IPO is usually leaked to the press long before the S-1 filing becomes available to the public.
How to Invest in Mercury Stock
Mercury is a venture-backed startup still below the $5 billion IPO threshold that venture capital firms prefer to see before an IPO.
Though private, accredited retail investors can look to secondary marketplaces for opportunities to invest in Mercury.
Here are some potential options to own Mercury stock before, during, and after the IPO.
1. Invest Pre-IPO
Pre-IPO investment platforms may offer Mercury stock for purchase as employees or early investors seek to sell some of their shares before an IPO.
Accredited investors may access shares (or SPV shares), provided they are registered on the platform and receive notifications about their availability.
Monitor pre-IPO investing platforms such as Hiive, Augment, Forge Global, and EquityZen for share availability.
If shares become available, expect to pay at least a $10,000 investment minimum, often more.
Non-accredited investors can monitor holdings of public venture funds like the forthcoming VCX fund by Fundrise to see if they hold shares of innovative startups.
2. Participate in the Mercury IPO through a broker
When a company goes public, ordinary investors can often buy the stock during the IPO at the IPO price.
This has become more common in recent years due to retail investor demand and brokers offering IPO access.
Some online brokers (like the ones listed below) allow investors to invest in IPOs for free, even if they have limited funds in their accounts.
- TradeStation ($500 minimum)
- Robinhood ($0 minimum)
TradeStation has a more established track record of accessing more than 450 IPOs and secondary offerings via its partnership with Click Markets.
Robinhood has the advantage of Silicon Valley networks and a history of getting allocations for high-profile IPOs.
Check out this list of the best brokers for IPO investing to learn more about IPO access for retail investors.
3. Buy Mercury stock after the IPO
Most retail and institutional investors will need to wait until after the IPO to invest. However, this can have its advantages, like access to more established financials after the first quarter of trading.
Pre-IPO investing has limited financials, higher minimums, and an accreditation requirement that excludes most retail investors.
IPOs often start with high valuations, but stock prices may fall after the first and second-quarter earnings reports expose significant numbers and trends.
Stock price declines can be excellent entry points for recent IPO stock. Avoid buying overvalued shares immediately after the IPO due to lockup expirations and earnings disappointments.
However, the most disruptive companies can take a decade or more to perform, so patience is key.
Conclusion
Mercury’s growth story was born out of frustration: clunky banking products trying to serve savvy product builders and founders.
In a world of AI, when solo developers can build enterprise apps, design and user experience have become the key differentiators.
Mercury has built a clean and focused product for a specific customer and stays in that lane. Founders who have used legacy business banking understand instinctively why Mercury gained traction.
The next step, becoming a bank, may be the most telling signal suggesting the company is laying regulatory groundwork to push toward institutional credibility or public markets.
Another funding round is something else to watch. If there’s a substantial increase in valuation in the next round, Mercury may indeed have an edge.
But watch for up-and-coming competitors such as Erebor, which seeks to serve a similar customer base.
Secondary market platforms remain the most realistic pre-IPO access point for accredited investors, though shares are not readily available. Prepare to invest and watch for opportunities.
Investors interested in a forthcoming Mercury IPO will need to be patient. A deal is likely at least three years away.
Mercury News Archive
07/28/2021: We raised a $120m Series B
09/5/2019: Mercury received $20m in series A funding led by CRV
Frequently Asked Questions (FAQs)
Craig Stephens founded Access IPOs in 2016 to help ordinary investors explore IPO and pre-IPO opportunities. He also manages the Access Club, a membership community for IPO and startup investors. Craig studied Finance at Michigan State University and lives in Northern Virginia. Learn more about Craig.
* This is a testimonial in partnership with Fundrise, Hiive, TradeStation, Robinhood, Moomoo, Webull, and other affiliate partners. We earn a commission from partner links on AccessIPOs.com. All opinions are my own. If you sign up with one of our partners through certain on this website, Access IPOs will be compensated at no additional cost to the reader. See the full disclosure here. Risk Statement: Access IPOs is for informational purposes only and does not recommend buying or selling any specific pre-IPO company, IPO, or public company. Investing in IPOs and pre-IPO startups involves significant risk. Do not invest in companies based solely on what is included in this article. Only invest in IPOs and pre-IPO companies with money you can afford to lose. Mentions of specific investments should not be construed as financial advice. Conduct personalized research and consider consulting with an investment advisor before investing. Disclosure: The author may hold an active or pending position in this company either directly or indirectly through an investment fund.
