Mercury

Growth Stage

Banking built for startups

Analytics

Raised to Date: Raised: $4,999,955

Aggregate Commitments $

Platform

Wefunder

Start Date

10/01/2021

Close Date

01/27/2022

Min. Goal

$2,499,977

Max. Goal

$4,999,955

Min. Investment

$100

Security Type

Equity - Preferred

Funding Type

RegCF

Series

Series B

Pre-Money Valuation

$1,620,000,000

Rolling Commitments $

Status
Funded
Reporting Date

10/27/2021

Days Remaining
Funded
% of Min. Goal

200%

% of Max. Goal

100%

Likelihood of Max
Funded
Avg. Daily Raise

$42,373

Momentum
Funded
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Location

San Francisco, California

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2B

Margin

Medium

Capital Intensity

Low

Business Type

High Growth

Mercury is raising funds on Wefunder. The company is reimagining banking for startups. The full financial stack of Mercury includes core financial products, including checking and savings accounts, debit cards, and domestic and international wires, and more products like custom team management, API access, and multi-account logins. Mercury already has over 40,000 customers, including Lunchclub, Mighty, and Linear. Immad Akhund and Saar Gur founded Mercury in August 2017. The current crowdfunding campaign has a minimum target of $2,499,977 and a maximum target of $4,999,955. The campaign proceeds will be used for hiring, marketing, working capital, and other expenses.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$2,713,633

$473,123

COGS

$1,149,081

$105,167

Tax

$0

$0

 

 

Net Income

$-8,708,185

$-3,662,243

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$27,877,909

$19,241,054

Accounts Receivable

$468,617

$704

Total Assets

$30,884,122

$21,758,890

Short-Term Debt

$17,838,348

$291,670

Long-Term Debt

$1,000,000

$1,400,000

Total Liabilities

$18,838,348

$1,691,670

Financials as of: 10/01/2021
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Mercury on Wefunder 2021
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Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $1,620,000,000

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