Deep Tide TechFlow News, May 20 — Financial technology company Mercury, which provides banking services for startups, has completed a $200 million Series D funding round, valuing the company at $5.2 billion, a 49% increase from the previous round 14 months ago.


This round was led by TCV, with participation from Sequoia Capital, Andreessen Horowitz, and Coatue.

Mercury previously received conditional approval from the U.S. Office of the Comptroller of the Currency to become a federally regulated bank, which will enable expansion into loan services, access to Zelle, and reduce reliance on partner banks.
Mercury stated that the company has been profitable for four consecutive years, with annual revenue reaching $650 million.
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