Incredibly excited for this conversation with Immad Akhund, the Founder of Mercury, a business bank for startups.
Mercury was founded in 2017 when almost no on had tried to build to a neobank for business. Today, Mercury has over 100,000 business customers and provides a suite of banking products
- Checking and Savings
- Credit Cards and expense management
- Treasury
- Venture Debt
In this conversation, we talk about just how hard, but rewarding the journey has been. Each year has been radically different from previous:
- 2017 how?
- 2018 build!
- 2019 launch!
- 2020 covid
- 2021 ecommerce boom & tech bubble
- 2022 tech crash
- 2023 SVB fails...
Most recently, the failure of SVB, their primary incumbent competitor, was a huge accelerant of the business with $2 Billion in deposits flow in a matter of weeks.
This is a great story of what it takes to build in fintech.
