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.
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.