Mercury, a San Francisco-based digital banking outfit targeting startups, has raised $20 million in a Series A funding round led by Charles River Ventures.
Existing investor Andreessen Horowitz joined the round alongside a host others, including Will Smith’s Dreamers Fund and Kevin Durant’s Thirty Five Ventures.
Mercury launched in April, promising full-stack bank accounts that help startups scale with features such as cashflow analytics, programmatic payments and instant runway estimates.
The firm has added integrations with Xero, Quickbooks, Plaid, and Finicity and has just taken its API live, letting users access their accounts programmatically to automate tasks.
The new funding will be used to continue bulking out the product as Mercury seeks to build up a customer base that hit 1500 in its first week, with a 40% monthly growth rate since.