Mercury Eyes New Sequoia-Led Funding Round at $3B+ Valuation:

San Francisco-based fintech Mercury Technologies, known for providing banking services to start-ups, is reportedly in talks for a new funding round led by Sequoia Capital, according to a Bloomberg report citing sources familiar with the matter.

Mercury Aims to Secure “Hundreds of Millions” in New Capital

Sources suggest the funding round could raise hundreds of millions of dollars, pushing Mercury’s valuation beyond $3 billion—nearly doubling its previous $1.6 billion valuation from its $120 million Series B led by Coatue in 2021.

While details on the allocation of funds remain undisclosed, this new round would build on Mercury’s $100 million credit warehouse secured from Natixis Corporate and Investment Banking (CIB) last October, which helped launch its IO credit card programme.

Mercury’s Expansion and Sequoia’s Fintech Investments

Founded in 2017, Mercury provides a suite of financial solutions for start-ups, including:

• Expense management software

• Invoicing and bill payments

• Physical credit cards

• Online banking services for both personal and business use

Sequoia Capital has been actively investing in fintech, recently backing companies such as Ramp, nsave, and Triver.

FinTech Futures has reached out to both Sequoia and Mercury for comment.Mercury Targets Major Funding Round Led by Sequoia at $3B+ Valuation