Mercury Technologies, a San Francisco-headquartered fintech specialising in banking services for start-ups, is reportedly in discussions for a new funding round led by Sequoia Capital.

Bloomberg reports that its sources indicate that the funding round could amount to “hundreds of millions”, raised at a valuation of more than $3 billion. This would nearly double its $1.6 million valuation from its $120 million Series B round led by Coatue in 2021.

Founded in 2017, Mercury offers start-ups a range of financial tools, including expense management software, invoicing and bill payment solutions, a physical credit card, and online personal and business banking services.

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