Mercury Valuation Climbs To $5.2 Billion After New Funding

Financing Growth Amid Market Resilience

Mercury has raised $200 million in new funding at a valuation of $5.2 billion, according to CNBC. The round, led by venture capital firm TCV, represents a 49% increase from Mercury’s previous valuation recorded 14 months earlier. Investors backing the company include Sequoia Capital, Andreessen Horowitz and Coatue.

Harnessing AI To Power Entrepreneurial Innovation

Mercury provides banking and financial management services focused primarily on startups and technology companies. The company said it now serves more than 300,000 customers, including a large share of early-stage startups in the United States. Mercury has remained profitable for the past four years and currently generates approximately $650 million in annualised revenue.

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Immad Akhund, CEO of Mercury, said growing adoption of artificial intelligence tools among startups has contributed significantly to the company’s recent expansion. According to Akhund, AI is accelerating the way entrepreneurs build products, automate workflows, and manage digital operations.

Building Mercury Bank: A Strategic Evolution

Mercury recently received conditional approval from the Office of the Comptroller of the Currency to establish a federally regulated bank. The move is expected to allow the company to retain a larger share of revenue while expanding services such as lending and instant payments through the Zelle network.

Mercury currently works with partner banks, including Column and Choice Financial. Akhund said direct regulation has become increasingly important as the company scales its operations and financial infrastructure.

Charting A Future Of Independent Strength And Innovation

Mercury’s transition toward becoming a regulated bank reflects broader changes across the fintech sector following disruptions involving intermediaries such as Synapse. The company is also continuing to expand AI-driven features, including conversational finance tools and workflow automation systems designed to simplify financial management for startups and businesses. Mercury’s latest funding round highlights continued investor interest in profitable fintech companies with strong AI integration and scalable infrastructure.

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Keve Welcomes New Cyprus Business Development Organisation

by THEFUTURE.TEAM

July 17, 2026

The Cyprus Chamber of Commerce and Industry (Keve) has welcomed Parliament’s unanimous approval of legislation establishing the Cyprus Business Development Organisation, describing it as a major step toward improving access to finance for small and medium-sized enterprises, startups and self-employed professionals.

Expanding Access To Finance

The legislation creates a new public body aimed at addressing financing gaps by supporting businesses that struggle to secure funding through traditional channels.

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According to Keve, the initiative could strengthen entrepreneurship, boost competitiveness and support Cyprus’ green and digital transition. The chamber has long argued that SMEs rely too heavily on bank financing, limiting investment, expansion and innovation.

Keve Calls For Swift Implementation

Keve said it helped shape the legislation through the consultation process and called for the organisation to become operational as quickly as possible. It also pledged to continue working with the Finance Ministry and the organisation’s management to support implementation.

How The Organisation Will Operate

Approved by Parliament on Tuesday, the legislation establishes Cyprus’ national business development body under the supervision of the Finance Minister, while the Central Bank of Cyprus will oversee anti-money laundering compliance.

The organisation will design financing programmes, provide loans and conduct studies to identify weaknesses in the financing market.

Cyprus will provide €60 million in initial capital. Over time, the body will also be able to raise funding from European and international institutions and benefit from state guarantees linked to approved strategic priorities.

Recovery Plan Milestone

Creation of the organisation is one of the final milestones under Cyprus’ Recovery and Resilience Plan and is required for the country to receive the plan’s ninth and final payment. Appointment of the board of directors remains the last outstanding step.

Before approving the bill, the Finance Ministry revised the draft following consultations with MPs and stakeholders. The changes removed provisions allowing the organisation to establish companies and narrowed the list of eligible beneficiaries by excluding small mid-cap companies.

Lawmakers also strengthened governance rules by introducing stricter board suitability requirements, conflict-of-interest safeguards, enhanced reporting obligations and borrowing limits. A seven-member board appointed by the Cabinet will oversee the organisation, while a transitional board will serve for two years until it becomes fully operational.

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