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The Bank That AI Startups Built: How a Tech Company Just Declared War on Old Banking—and Won $5.2 Billion
TechMay 22, 2026

The Bank That AI Startups Built: How a Tech Company Just Declared War on Old Banking—and Won $5.2 Billion

On Wednesday morning, a 12-year-old fintech company announced a funding round and triggered an identity crisis across the entire American banking industry. Mercury, the technology company that provides financial-operating systems to startups, disclosed a $200 million Series D funding round that valued the firm at $5.2 billion, led by investment firm TCV with participation from Andreessen Horowitz, Coatue, CRV, Sapphire Ventures, Sequoia Capital, and Spark Capital. The valuation represented a 48.6 percent increase from the $3.5 billion figure attached to its Series C in March 2025. Total primary and secondary funding has now reached approximately $700 million.

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