Mercury has announced the acquisition of Central, marking a major step toward building a fully integrated financial operating system for startups.
The move reflects Mercury’s ambition to go beyond traditional banking by embedding payroll one of the largest operational costs for startups directly into its platform. By doing so, the company is closing a critical gap in its financial infrastructure.
From dashboards to execution: the “teammate” model
Founded in 2023, Central introduced a new approach to payroll by combining AI agents with human expertise. Instead of simply providing tools, the platform operates as an active execution layer for founders.
Key capabilities include:
- Automated Compliance: Managing complex state-level tax and HR requirements
- End-to-End Benefits: Handling onboarding, insurance, and PTO without manual input
- Operational Execution: Shifting from software management to task automation
Prior to the acquisition, Central had already processed over $175 million in payroll for nearly 500 startups, with more than half of those customers already using Mercury.
Closing the infrastructure gap
Payroll has long been a missing component in Mercury’s ecosystem. With this acquisition, Central will integrate alongside existing products such as corporate cards, bill payments, invoicing, and reimbursements.
This creates a unified financial flow where:
- Incoming revenue
- Operational spend
- Payroll execution
are all managed within a single system.
Mercury stated:
“Your bank account should do more than hold money it should power everything your company does with money. Payroll has been a missing piece, and Central is how we close that gap.”
The team behind Central
The acquisition also brings an experienced founding team into Mercury’s ecosystem:
- Josh Wymer (CEO): Former product engineering leader at Mixpanel
- Pranav Kashyap: Experience across Stripe, McKinsey, and Sequoia
- Nilay Modi: Product designer and repeat Y Combinator founder
This team will lead the integration, ensuring complex payroll infrastructure remains intuitive within Mercury’s interface.
Market shift: the rise of agentic banking
This move signals a broader industry trend toward “agentic banking,” where financial platforms automate entire operational workflows rather than simply providing tools.
By integrating payroll directly into its system, Mercury gains the ability to:
- Deliver deeper cash flow insights
- Automate tax allocations
- Enhance risk modeling for credit products
This positions the platform as a central operating layer for startup finance.
About Mercury
Mercury is a fintech platform designed for startups, combining banking services with tools such as corporate cards, treasury management, and financial automation. The company serves over 100,000 startups globally.
About Central
Central is an AI-native payroll and benefits platform that automates HR and payroll operations through a combination of artificial intelligence and human expertise, simplifying complex compliance and administrative workflows.
