Max Mullen

Mercury just crossed $1B in annualized revenue today. Here's what you need to know. The fintech banking company says it now has more than 450,000 customers, including 1 in 3 U.S. startups. CEO Immad Akhund announced it on X and shared the numbers on the Newcomer Podcast. It has been profitable for 4+ years. Revenue is up around 50% year over year. Mercury hit $650M in annualized revenue as of September 2025, and it is just seven years after launch. Growth has been steady. Mercury's annual letter says customer growth reached 50% year over year by the end of 2025. Transaction volume grew to $248B, up 59% from $156B in 2024. A team member who joined five years ago says the company was then at $10M a year and about 20K customers. Akhund says AI is making it easier than ever to start a company. He expects more companies to form in the next five years than in the last 20. These founders run their companies alongside AI agents, but banking still works the old way. Mercury says it is building banking for the agentic era. He says some of the biggest banks have said they block access to AI agents. Mercury offers Mercury Command, its own agent inside the product, and lets customers connect their own. The company also has a new accounting and bookkeeping product. Key numbers: - $1B annualized revenue, up around 50% year over year - 450,000+ customers, up from 300,000+ at the Series D - 1 in 3 U.S. startups use Mercury - 4+ years of profitability - $248B transaction volume in 2025, up 59% - $5.2B valuation at its Series D Mercury's message to customers: what you expect from banking is about to change.