On April 2, 2026, Mercury announced the acquisition of Central, an AI-native payroll, benefits, and compliance platform designed for startups. This acquisition aims to integrate payroll services directly into Mercury’s banking platform, allowing users to handle payroll, HR, and state compliance through a mix of AI agents and human experts.
Key Details of the Acquisition:
Purpose: To automate the “financial back office” for startups, with payroll representing about 20% of total spend for Mercury customers.
Integration: The Central team, including co-founders Josh Wymer, Pranav Kashyap, and Nilay Modi, is joining Mercury.
Immediate Impact: Central’s services (payroll, benefits, HR) will be integrated with Mercury’s existing banking, card, and expense tools.
Central Status: Founded in 2023, Central has processed over $175 million in payroll for nearly 500 startup customers
Central’s AI-powered platform will help Mercury expand its financial operations beyond banking into employee management and compliance
