Mercury, a digital banking startup, launched a new AI tool this week that lets customers run their finances through conversation rather than menus, the clearest sign yet that banking software is moving from AI that suggests toward AI that acts.
The tool, called Mercury Command, lets users tell the system what to do in plain language and have the work completed. A customer can ask it to check a cash position, adjust auto-transfer rules, categorize transactions, or send an invoice, and Command carries out the task. Crucially for any compliance-minded operation, Mercury built in a human approval step. Command stages each action and requires explicit customer confirmation before it executes, and it operates only within a user’s existing permissions and controls. Every answer links back to the underlying transaction or account record so it can be audited.
Command arrives alongside news that Mercury had raised $200 million in a Series D round that values the company at $5.2 billion. Led by growth equity firm TCV with existing backers including Andreessen Horowitz, Coatue, Sequoia Capital, and Sapphire Ventures returning, the raise lifts Mercury’s total funding to roughly $700 million. The company reported $650 million in annualized revenue as of the third quarter of 2025 and said it has stayed profitable on both a GAAP net income and EBITDA basis for four straight years, a notable claim in a sector where growth has often outrun earnings.
Command is the latest in a run of AI releases from the company, which has also shipped an in-product analytics tool and developer tooling that lets businesses interact with their accounts programmatically.
The backdrop is a startup boom Mercury argues AI is fueling. New business applications rose 18% year over year in the first quarter. The company now serves more than 300,000 customers, with more than 73% of new sign-ups coming from outside the AI and tech startup category.
