Mercury Fintech announces a new milestone: the company achieved a record at the end of the third quarter $650 million According to an exclusive Fortune interview published in November 7, 2025.
How did Mercury’s March Series C and $3.5 billion valuation reshape its growth prospects?
In March, Mercury completed the Sequoia-led project. 300 million dollars Series C focused on startup banking platform $3.5 billion. This round provided both capital and market signals, confirming investor confidence in the company’s path to scale.
However, a fundraising event is a snapshot. Management and investors plan to use the proceeds to deepen product capabilities, hire in regulated operations, and grow market share among startups and scale-up companies.
Series C details
The March funding was publicly presented as a growth round to accelerate product development and compliance investments. Media reports at the time documented its size and lead investors, and said the cash infusion was linked to a boost in public valuations.
Valuation and investor background
Valuation affects returns and subsequent round expectations. Analysts therefore test unit economics against headline numbers, focusing on trends in revenue per customer and profit margins as a company grows.
How significantly has Mercury’s annual revenue increased from $500 million to $650 million?
Management told Fortune that annual revenue increased as follows: $650 million By the end of the third quarter, 500 million dollars At the end of 2024.
This move suggests accelerating sales momentum through 2025 and strengthens the forecast built from monthly revenue estimates.
That said, Mercury uses a simple monthly-to-annual conversion for this metric rather than a contract-style ARR measurement. Therefore, analysts should treat this number as a high-level activity indicator rather than a fully audited tail number.
Will profitability remain a central pillar as the company scales?
Imad Akoun, co-founder and CEO of Mercury, emphasized the philosophy of financial discipline. “I like to make a profit,” he told Fortune magazine, and the company reported: GAAP profitability Achieved third consecutive year of positive net income and EBITDA.
In fact, profitability is important in banking products as customers deposit large amounts of funds on the platform. As Acundo pointed out, some customers have more than $100 million in Mercury’s systems, so maintaining margins and operational health builds trust.
How much is Mercury investing in compliance and risk?
Mercury is increasing compliance spending as its business expands. The company said roughly 20% of employees currently hold risk and compliance roles and recently hired a chief compliance officer steve perlman Extend their functionality.
This investment is partly in response to industry shocks. The failures of providers such as Synapse and Evolve have prompted regulatory scrutiny across fintech. Mercury’s approach is aimed at strengthening controls and reassuring customers and regulators alike.
Who are Mercury’s customers and how fast is its user base growing?
Mercury’s customer list is like a startup roll call. Customers include: super bass, eleven lab, adorable, linear, phantomand tempo. The company reports: 40% By 2025, the number of customers will increase.
Additionally, Ackundo’s personal activities as an investor highlight the company’s deep ties to the startup ecosystem. He has backed more than 350 startups since 2016, and in May announced a $26 million personal venture fund that executives say keeps him connected to founders’ priorities.
What validation steps should analysts take before modeling Mercury’s future?
First, we compare published annualized numbers to quarter-end accounting disclosures, if available.
Next, assess customer concentration and average balances that drive revenue stability. Finally, monitor regulatory filings and audited statements for confirmation.
In this context, while the Fortune interview is the authoritative primary report on these metrics, the subsequent financial disclosures provide the final details needed for modeling and valuation efforts.
- $650 million — Annualized revenue at end of third quarter 2025 (Fortune, November 7, 2025).
- 500 million dollars — Annualized earnings at the end of 2024 (Fortune).
- $3.5 billion — Valuation after Sequoia-led Series C in March (Fortune).
- $300 million Series C led by Sequoia — March funding round (Fortune; see third-party coverage below).
Exclusive interview with Imad Akundo Fortune magazine, published November 7, 2025. Simultaneous coverage of Series C in March was reported by TechCrunch.
