What it sells
Online business banking for startups and small businesses with checking and savings, cards, payments, invoicing, treasury, venture debt and AI accounting (Mercury Books).
Business model breakdown
Buyer: who owns the budget?
UnverifiedFounder, CEO or finance lead of a startup/small business (also VC fund and agency finance ops) who opens the account.
Trigger: what makes them buy now?
UnverifiedNewly formed or scaling startup needing a business bank account with cards, invoicing and treasury, or switching from a legacy bank (Switch to Mercury).
Workflow: what inputs become what output?
Open account online, receive and send ACH/wire payments, issue cards, invoice customers, sync to accounting, and move idle cash into Treasury (unlocked at $250K balance).
Economics: what it saves and how it charges
UnverifiedBanking essentials free; revenue from paid plans (Plus, Pro), per-transaction invoicing fees, Mercury Books subscription, and likely card interchange and treasury/lending income (inferred).
Distribution: how it reaches customers
UnverifiedSelf-serve online application with partner banks.
Funding history and coverage
| Round date | Stage | Amount | Investors | Source |
|---|---|---|---|---|
| 2026-05-20 | Series D | $200M | — | news.google.com |
Profiles summarize public reporting and company websites. Business-model notes are MaxBC's reading of that material, not confirmed facts; unknowns are left blank rather than guessed. Updated 2026-10-13.