Mercantile Raises $22M in Total Funding

Mercantile, New York-based provider of an industry-specific credit card platform, raised $22M in total funding, including a $15m Series A.

The Series A round was led by Index Ventures, with participation from First Round Capital, General Catalyst, SV Angel, Operator Partners, and Box Group.

The company intends to use the funds to further invest in product development, as well as build out its partnership and go-to-market teams.

Led by CEO Sam Poirier, Mercantile builds industry-specific credit cards for small business owners. By creating customized card programs based on industry-specific needs, Mercantile allows industry organizations — like the American Optometric Association and the Academy of Doctors of Audiology – to offer a branded credit card to their customers. Mercantile negotiates on behalf of cardholders to deliver meaningful discounts on industry essential items and cover relevant association dues or monthly subscriptions.

FinSMEs

12/10/2022