The challenger says the funds take its total valuation up to $1.62 billion, making it the country’s latest banking unicorn.
The raise also included participation from Andreessen Horowitz, CRV, and Sapphire Ventures as well as a number of angel investors.
Mercury is also looking to crowdfund $5 million as part of its Series B to give customers the option to invest.
Founded in 2017, Mercury has now raised around $152 million in funding over four rounds. Its latest investment in September 2019 saw it secure $21 million from 30 separate investors.
