# Modern Treasury vs Mercury

> A head-to-head look at two San Francisco fintech companies that get confused for competitors but do opposite jobs. Mercury is the bank account startups open - where the cash sits, earning yield, insured through partner banks, on its way to its own charter. Modern Treasury is the software that orchestrates payments across Mercury and every other account a company holds, moving money over ACH, wire, RTP, FedNow and stablecoins while keeping the ledger straight. One is where money lives; the other is how it moves.

## Achievements

- Mercury: over 300,000 companies as customers, roughly $650M in annualized revenue and four consecutive years of profitability.
- Mercury: $5.2B valuation after a 2026 Series D, up 49% from $3.5B fourteen months earlier.
- Modern Treasury: infrastructure that has processed more than $400 billion in payments for companies including Gusto, Navan, Procore, Anchorage Digital and Sling Money.
- Modern Treasury: valued above $2B and supporting money movement across ACH, wire, RTP, FedNow and stablecoins with built-in ledgers and compliance.

## Latest updates

- **2026-05** — Mercury raised a $200M Series D led by TCV at a $5.2B valuation and is pursuing a US bank charter, with potential final approval around 2027.
- **2026-05** — Modern Treasury launched Payments, an integrated payment service provider spanning fiat and stablecoins.

## Links

- Website: https://www.moderntreasury.com
- LinkedIn: https://www.linkedin.com/company/modern-treasury/
- Twitter/X: https://twitter.com/moderntreasury
- GitHub: https://github.com/Modern-Treasury

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Profile page: https://yespress.io/where-money-lives-how-it-moves
Published by YesPress — https://yespress.io
Last updated: 2026-08-16