Yet another opportunity to raise the question, “In a world of remote first companies, what even is a Portland company anymore…?” Regardless of where companies are “headquartered,” I’ve always tried to track companies that have regional offices here, because we happen to have regional offices that have significant impact on our community. (Intel, for example, has more employees here than anywhere else, even though it’s a regional office.) So I’ve been tracking on Mercury — a banking service designed to be startup friendly — ever since I caught wind that it had a Portland presence. That’s why I’m sharing today’s news: Mercury just raised $300 million at a $3.5 billion valuation.
Fintech banking startup Mercury says it has more than doubled its valuation to $3.5 billion after raising $300 million in its latest funding round.
A portion of the funding raised will go toward a tender offer for employees, the company says. The round was led by Sequoia Capital, which will get a board seat. Returning investors for this round included Coatue Management.
For more, read the Wall Street Journal exclusive.
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