Fintech firm Mercury has raised $200m in a Series D funding round that values the company at $5.2bn.
The investment was led by TCV, with existing backers Andreessen Horowitz, Coatue, CRV, Sapphire Ventures, Sequoia Capital and Spark Capital also taking part.
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The latest round brings its total primary and secondary funding to about $700m.
Mercury serves more than 300,000 customers.
In the third quarter of 2025, Mercury reached $650m in annualised revenue. It also reported that applications in the first quarter of 2026 were 2.5 times higher than in the same quarter of 2025.
Over the past year, Mercury has added several products and tools. It introduced Mercury Insights, which it described as its first AI feature within the product, designed to give customers a live view of company finances.
The company also expanded its AI developer offerings through secure banking access with its Model Context Protocol and a command-line interface that allows actions to be taken from the terminal.
Mercury said that, following its acquisition of Central, it plans to add AI-based payroll to its platform.
It has also widened access to Mercury Personal, making the product available to all qualifying U.S. applicants.
The company said it will later this year launch Mercury Command, a tool intended to let users complete financial tasks through AI.
Mercury customers will be able to review cash positions, adjust auto-transfer settings, classify transactions and send invoices using natural language inside their accounts, with any action subject to customer review and approval.
The funding announcement follows conditional approval from the OCC for the establishment of Mercury Bank, N.A.
Mercury said that, as a fully chartered national bank, Mercury Bank, N.A. would give customers access to services not currently available through the company, including Zelle, a wider range of lending products and payment infrastructure operated by Mercury.
Mercury co-founder and CEO Immad Akhund said: “AI is collapsing the friction between an idea and a company faster than anything I have seen in my career.
“We are going to see more founders in the next five years than in the last twenty. But legacy banking in 2026 still works the way it did when I started my first company in 2006. I started Mercury because banking should do more than be a vault, it should help customers run the best business possible.”
