Mercuryo Raises $7.5 Million in a Series A Funding Round
- The funding round was led by the International Venture Capital firm, Target Global.

“The need for fast and efficient international payments, especially for businesses, is as relevant as ever. Our team has a clear plan on making crypto universally available by enabling cheap and straightforward transactions. Cryptocurrency assets can then be used to process global money transfers, mass payouts and facilitate acquiring services, among other things,” Petr Kozyakov, Mercuryo’s Co-Founder and CEO commented on the announcement.
Since the company started to onboard clients in 2019, Mercuryo saw an annual recurring revenue in April that crossed the $50 million threshold. Among its partners include Binance, Bitfinex, Trezor, Trust Wallet, Bithumb and Bybit. Additionally, Angel investors participated in the Series A round of funding as the startup had raised over $10 million since 2018 when it was founded.
Plans for the Future
Looking ahead, the European startup expects to use the capital raised to launch a cryptocurrency-based debit card where customers could spend directly from the crypto balance held in their wallet. Moreover, Mercuryo has planned to expand further into Latin America and Asia-Pacific regions. “We plan to use the capital to expand into new markets and launch business solutions enabling any company to become a Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to supply a technological service that not only simplifies but also aids consumers, business operators, and networks.This is done by optimizing business processes and financial operations through the implementation of specialized software, algorithms, and automated computing processes. Transitioning from the roots of the financial sector, fintech providers can be found through a multitude of industries such as retail banking, education, cryptocurrencies, insurance, nonprofit, and more. While fintechs cover a vast array of business sectors, it can be broken down into four classifications which are as followed: Business-to-business for banks, Business-to-business for banking business clients, business-to-consumers for small businesses, and consumers. More recently, fintechs presence has become increasingly apparent within the trading sector, primarily for cryptocurrencies and blockchain technology.The creation and use of Bitcoin can also be contributed to innovations brought upon by fintechs while smart contracts through blockchain technology have simplified and automated contracts between buyers and sellers. As a whole, fintechs applications are growing more diverse with a consumer-centric focus while its applications continue to innovate the trading and cryptocurrency sectors through automated technologies and business practices. Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to supply a technological service that not only simplifies but also aids consumers, business operators, and networks.This is done by optimizing business processes and financial operations through the implementation of specialized software, algorithms, and automated computing processes. Transitioning from the roots of the financial sector, fintech providers can be found through a multitude of industries such as retail banking, education, cryptocurrencies, insurance, nonprofit, and more. While fintechs cover a vast array of business sectors, it can be broken down into four classifications which are as followed: Business-to-business for banks, Business-to-business for banking business clients, business-to-consumers for small businesses, and consumers. More recently, fintechs presence has become increasingly apparent within the trading sector, primarily for cryptocurrencies and blockchain technology.The creation and use of Bitcoin can also be contributed to innovations brought upon by fintechs while smart contracts through blockchain technology have simplified and automated contracts between buyers and sellers. As a whole, fintechs applications are growing more diverse with a consumer-centric focus while its applications continue to innovate the trading and cryptocurrency sectors through automated technologies and business practices. Read this Term without dealing with its complications,” the company said in a tweet.
“@Mercuryo_io is growing at a tremendous pace, despite market fluctuations. We build a range of products and don’t depend on a crypto segment. The new round brings us a step closer to the global disruption of the payments market,” Greg Waisman, Mercuryo’s Co-Founder and Chief Operations Officer, stated in a tweet.
In March, Sumsub, a leading provider of anti-fraud and identity verification solutions, announced that it had joined forces with Mercuryo to offer swift and thorough customer onboarding procedures for cryptocurrency-related businesses and their users.
“The need for fast and efficient international payments, especially for businesses, is as relevant as ever. Our team has a clear plan on making crypto universally available by enabling cheap and straightforward transactions. Cryptocurrency assets can then be used to process global money transfers, mass payouts and facilitate acquiring services, among other things,” Petr Kozyakov, Mercuryo’s Co-Founder and CEO commented on the announcement.
Since the company started to onboard clients in 2019, Mercuryo saw an annual recurring revenue in April that crossed the $50 million threshold. Among its partners include Binance, Bitfinex, Trezor, Trust Wallet, Bithumb and Bybit. Additionally, Angel investors participated in the Series A round of funding as the startup had raised over $10 million since 2018 when it was founded.
Plans for the Future
Looking ahead, the European startup expects to use the capital raised to launch a cryptocurrency-based debit card where customers could spend directly from the crypto balance held in their wallet. Moreover, Mercuryo has planned to expand further into Latin America and Asia-Pacific regions. “We plan to use the capital to expand into new markets and launch business solutions enabling any company to become a Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to supply a technological service that not only simplifies but also aids consumers, business operators, and networks.This is done by optimizing business processes and financial operations through the implementation of specialized software, algorithms, and automated computing processes. Transitioning from the roots of the financial sector, fintech providers can be found through a multitude of industries such as retail banking, education, cryptocurrencies, insurance, nonprofit, and more. While fintechs cover a vast array of business sectors, it can be broken down into four classifications which are as followed: Business-to-business for banks, Business-to-business for banking business clients, business-to-consumers for small businesses, and consumers. More recently, fintechs presence has become increasingly apparent within the trading sector, primarily for cryptocurrencies and blockchain technology.The creation and use of Bitcoin can also be contributed to innovations brought upon by fintechs while smart contracts through blockchain technology have simplified and automated contracts between buyers and sellers. As a whole, fintechs applications are growing more diverse with a consumer-centric focus while its applications continue to innovate the trading and cryptocurrency sectors through automated technologies and business practices. Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to supply a technological service that not only simplifies but also aids consumers, business operators, and networks.This is done by optimizing business processes and financial operations through the implementation of specialized software, algorithms, and automated computing processes. Transitioning from the roots of the financial sector, fintech providers can be found through a multitude of industries such as retail banking, education, cryptocurrencies, insurance, nonprofit, and more. While fintechs cover a vast array of business sectors, it can be broken down into four classifications which are as followed: Business-to-business for banks, Business-to-business for banking business clients, business-to-consumers for small businesses, and consumers. More recently, fintechs presence has become increasingly apparent within the trading sector, primarily for cryptocurrencies and blockchain technology.The creation and use of Bitcoin can also be contributed to innovations brought upon by fintechs while smart contracts through blockchain technology have simplified and automated contracts between buyers and sellers. As a whole, fintechs applications are growing more diverse with a consumer-centric focus while its applications continue to innovate the trading and cryptocurrency sectors through automated technologies and business practices. Read this Term without dealing with its complications,” the company said in a tweet.
“@Mercuryo_io is growing at a tremendous pace, despite market fluctuations. We build a range of products and don’t depend on a crypto segment. The new round brings us a step closer to the global disruption of the payments market,” Greg Waisman, Mercuryo’s Co-Founder and Chief Operations Officer, stated in a tweet.
In March, Sumsub, a leading provider of anti-fraud and identity verification solutions, announced that it had joined forces with Mercuryo to offer swift and thorough customer onboarding procedures for cryptocurrency-related businesses and their users.