Press release

Mercury® Financial Provides Access to More Than $300 Million in Credit to New Account Holders in Record-Breaking Third Quarter

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Mercury Financial, a financial inclusion technology company, announced today it provided access to more than $300 million in unsecured credit to new account holders in the third quarter, representing a record-breaking milestone in the company’s growth as the premier technology provider exclusively serving the near-prime consumer market. Amidst its growth, Mercury Financial has significantly expanded its customer base, with a 65 percent increase in total open accounts between September 2020 and September 2021.

“The momentum we’ve gained over the last few months is a direct reflection of our ongoing commitment to serving our near-prime customers, who deserve the opportunity to rebuild their credit,” said James Peterson, CEO of Mercury Financial. “I’m proud to see our company succeed because it means that hundreds of thousands of hard-working Americans are also succeeding. Better yet, it means that we can continue to execute our mission and help even more people access unsecured credit, maximize their purchasing power and enjoy the benefits of a superior credit experience.”

Mercury Financial’s successful third quarter also saw a more than 350 percent increase in net new account openings compared to the same quarter last year. It follows the company’s recently announced partnership extension with Global Payments Inc. and First Bank & Trust, and the launch of the Free Spirit® Points Plus Mastercard® product through its ongoing partnership with Spirit Airlines, which expands opportunities for members to earn travel perks and points-based benefits.

“Partnerships with leading financial institutions and national brands are a critical part of how we deliver exceptional credit experiences for our customers,” said Jeff Courtney, chief operating officer at Mercury Financial. “At the same time, we’re deeply committed to bringing to market even more digital tools and resources that enable us to maintain best-in-class loan growth and outperform industry averages while helping customers maintain a 98 percent average on-time payment rate.”

In the fourth quarter and into the new year, Mercury Financial will further develop its portfolio of digital products—with a focus on credit-building tools and experiences—while leveraging its proprietary analytics and risk technology to enhance access to unsecured credit for millions more Americans.

For more information on Mercury Financial, visit www.mercuryfinancial.com.

About Mercury Financial

Mercury® Financial LLC (Mercury Financial) is expanding financial inclusion through technology. We deliver access to credit and a superior digital credit experience focused on the underserved near-prime customer. To date, Mercury Financial has helped empower nearly 1 million deserving Americans with better credit through the use of its proprietary risk assessment and data analytics technologies. We strive to provide best-in-class credit lines to allow customers to maximize their purchasing power. We offer valuable cashback rewards and travel rewards through strategic partnerships like the Spirit Airlines “Free Spirit” Program. Mercury Financial prioritizes providing the tools to promote positive financial behavior and upward mobility through a seamless digital experience.

Mercury Financial has more than 160 employees in offices in Wilmington, Delaware, and Austin, Texas, and is led by CEO and 15-year financial services veteran James Peterson and a management team with decades of combined industry experience. Backed by Värde Partners, a leading global alternative investment advisor, Mercury Financial has provided customers access to more than $3 billion in credit lines since its founding in 2013.

Mercury® Financial manages the Mercury® Mastercard® and the Free Spirit® Points Mastercard®, which are issued by First Bank & Trust, Brookings, SD pursuant to a license by Mastercard® International.

For more information, visit www.mercuryfinancial.com.