Mercury was founded in 2017 by Immad Akhund, Jason Zhang, and Maximilian Tagher. The company has not publicly endorsed plans to participate in an IPO.
Mercury is a banking platform built for startups. While the company is not a bank itself, Mercury's platform gives business the tools to manage their finances from a single stack. Mercury offers cashflow analytics, visual dashboards, payment processing, and in 2022 announced plans to offer venture debt to early-stage startups. Mercury has raised more than $150 million in venture capital funding from investors including Andreessen Horowitz, CRV, Sapphire Ventures, L2 Ventures, SV Angel, and Serena Ventures. In 2021, the company announced that it had raised $120 million in fresh capital at a $1.62 billion valuation.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.