When I started fundraising for Mercury’s seed round in 2017, my pitch to investors was simple: Banking is a massive market, every business needs a bank account, and as a 4x founder, I’m deeply familiar with how painful it is for entrepreneurs to get and use their bank account.
But what got me truly excited about building Mercury as my fourth startup was an idea bigger than just creating a better business bank account.
Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust®; Members FDIC.1 The long-term vision for Mercury was always to create an essential product that could help businesses run all their company finances from one place.
Today, I’m announcing the next step toward realizing Mercury’s larger vision: new software to simplify your essential financial workflows by powering them directly from your Mercury account.
Starting today, customers can pay bills more accurately with Mercury Bill Pay. Close the books faster with new accounting automations, including a new NetSuite integration. And coming soon, collect customer payments on time with Mercury Invoicing and easily reimburse employees for their personal expenses.
Along with a bank account, every scaling company needs financial software to run their business. But today, the critical tools that help teams do seemingly simple tasks like pay bills, manage employee spend, and send invoices are needlessly complex. Founders and finance teams have to use multiple tools to run these workflows, and each tool needs to be carefully and separately connected to a bank account, but the tools aren’t then integrated with each other. And none are powered from the bank account, which is the source of truth for exactly how much money you have.
We believe your bank account should do more than hold your money.
Since the beginning, we’ve always understood that the bank account is not just a repository for funds but the heart of a business’s operations. With over 200,000 customers sending $4B in outgoing payments every month on Mercury, the ability to run financial operations from your Mercury account isn’t only convenient — it’s essential. With banking and software to run financial workflows in one, Mercury enables a new level of visibility, speed, and control.