Immad Akhund is a serial entrepreneur and the CEO of Mercury, a FinTech Platform that was in the headlines recently for being the biggest beneficiary of the SVB crisis. In the 6 days after the crash, Mercury took in over $2B in new deposits from companies leaving SVB and raised FDIC insurance from 1 to 3 to $5M in a week. Immad is also known for being one of the best fundraisers in the game and shared advice for Founders and Investors. Overall an awesome conversation about what’s wrong with banking today.Immad is also known for being one of the best fundraisers in the game and shared advice for Founders and Investors. Overall an awesome conversation about what’s wrong with banking today.  (0:00) Intro(1:29) Adam Neumann's couch(4:03) No FinTech background(10:51) What is Mercury?(18:37) What does Mercury do?(27:14) Picking partner or sponsor banks(39:57) Uninsured deposits(50:59) What was the impetus for being so clear in your mission statement?(54:50) FDIC Insurance(1:09:35) Convoluted and esoteric US banking system(1:15:43) The day SVB played out(1:20:33) Why would you bank with anyone but JP Morgan?(1:24:30) The idea for Mercury(1:28:14) Will Mercury become a bank?(1:35:02) Tweeting Keith Rabois(1:40:02) Finding product market fit(1:46:31) Having a big network and strong relationshipsMixed and edited: Justin HrabovskyProduced: Rashad AssirExecutive Producer: Josh MachizMusic: Griff Lawson🎙 Listen to the showApple Podcasts: https://podcasts.apple.com/us/podcast/three-cartoon-avatars/id1606770839Spotify: https://open.spotify.com/show/5WqBqDb4br3LlyVrdqOYYb?si=3076e6c1b5c94d63&nd=1Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5zaW1wbGVjYXN0LmNvbS9zb0hJZkhWbg 🎥 Subscribe on YouTube: https://www.youtube.com/channel/UCugS0jD5IAdoqzjaNYzns7w?sub_confirmation=1Follow on Socials📸 Instagram - https://www.instagram.com/theloganbartlettshow🐦 Twitter - https://twitter.com/loganbartshow🎬 Clips on TikTok - https://www.tiktok.com/@theloganbartlettshow About the ShowLogan Bartlett is a Software Investor at Redpoint Ventures - a Silicon Valley-based VC with $6B AUM and investments in Snowflake, DraftKings, Twilio, and Netflix. In each episode, Logan goes behind the scenes with world-class entrepreneurs and investors. If you're interested in the real inside baseball of tech, entrepreneurship, and start-up investing, tune in every Friday for new episodes. Executive Producer: Rashad AssirProducer: Leah ClapperMixing and editing: Justin Hrabovsky Check out Unsupervised Learning, Redpoint's AI Podcast: https://www.youtube.com/@UCUl-s_Vp-Kkk_XVyDylNwLA 🎙 Listen to the show Apple Podcasts: https://podcasts.apple.com/us/podcast/the-logan-bartlett-show/id1606770839Spotify: https://open.spotify.com/show/5WqBqDb4br3LlyVrdqOYYb?si=3076e6c1b5c94d63&nd=1Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5zaW1wbGVjYXN0LmNvbS9zb0hJZkhWbg 🎥 Subscribe on YouTube: https://www.youtube.com/channel/UCugS0jD5IAdoqzjaNYzns7w?sub_confirmation=1 Follow on Socials 📸 Instagram - https://www.instagram.com/theloganbartlettshow🐦 Twitter - https://twitter.com/loganbartshow🎬 Clips on TikTok - https://www.tiktok.com/@theloganbartlettshow About the Show Logan Bartlett is a Software Investor at Redpoint Ventures - a Silicon Valley-based VC with $6B AUM and investments in Snowflake, DraftKings, Twilio, and Netflix. In each episode, Logan goes behind the scenes with world-class entrepreneurs and investors. If you're interested in the real inside baseball of tech, entrepreneurship, and start-up investing, tune in every Friday for new episodes.

We're switching things up and bringing you two interviews this week, so let's niche down to a single person, think about their work and unpack the rest.Mary Ann took the lead this time, and she sat down (virtually) with Immad Akhund, the CEO and co-founder of Mercury. For those who are unfamiliar, the fintech made headlines earlier this year for how it stepped in to help fill the business banking void left in the wake of Silicon Valley Bank's collapse. Here's what the pair caught up on: Mercury's impressive growth in the months since SVB crashed Lessons learned from Immad's angel investing experience What Immad calls the "Startup Death Spiral" and how to escape it As always, Equity will be back for you bright an early Monday morning. Talk soon!For episode transcripts and more, head to Equity’s Simplecast website.Equity drops at 7 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. TechCrunch also has a great show on crypto, a show that interviews founders, one that details how our stories come together and more! Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.

Immad Akhund, Founder of Mercury, discusses the journey of building a business bank for startups, including the challenges and rewards. They talk about the recent failure of SVB, their primary competitor, which accelerated their business. The podcast covers topics such as integrating features like wire transfers and supporting immigrants, finding banking partners, launching a credit card program, building a vault, and targeting the middle class with innovative approaches.

Mercury CEO discusses how software can revolutionize banking, emphasizing user-friendly solutions. Lead Bank CEO shares insights on owning a bank vs a tech company, highlighting the complexity of compliance. The podcast delves into the evolving dynamics between fintech firms and traditional banks amidst regulatory scrutiny, emphasizing the importance of strategic acquisitions and navigating the fintech landscape.

Shaan Puri (@ShaanVP), Sam Parr (@theSamParr), and Immad Akhund (@immad) discuss: - How Shaan 3x his Twitter following in 2 months - The wild r/WallStreetBets trades and Shaan's $100k bet - Immad brings his ideas: a new CRM, startups catering to the creator economy, and "Clubhouse for business" - The future of Substack and it's competitors - The big potential of white labeling lending platforms Today's episode is brought to you by FOCUSAID. It’s the #1 and first nootropic drink in America that’s sold over 100m cans. For 30% off your first order, go to DrinkFocusAid.com. Check it out! Have you joined our private FB group yet? It's a page where people share each others million dollar ideas or what they're already working on: https://www.facebook.com/groups/ourfirstmillion. Editing thanks to Jonathan Gallegos (@jjonthan) See acast.com/privacy for privacy and opt-out information.

Immad Akhund, CEO of Mercury, discusses crisis management when a competitor falls, rapid product development to boost confidence, and the customer-first approach at Mercury. He shares insights on navigating post-competitor crash challenges, launching innovative products, and scaling startup experiments in the banking sector.

Immad Akhund, Co-founder and CEO of Mercury, discusses starting a family young, founding companies, balancing time vs. energy, and skill-building with kids. He shares insights on disagreements with spouses and draws parallels between building a family and a startup.

Immad Akhund, CEO of Mercury and serial entrepreneur, discusses the early days of Mercury, the neobank industry, advice on operating, and his strategies on investing. Topics include launching Mercury, the SVB fallout, AI hype cycle, and operating advice like the six-year vesting plan.

Immad Akhund, CEO of Mercury and prolific angel investor, shares insights on the chaotic aftermath of Silicon Valley Bank's collapse. He discusses how Mercury managed over $2 billion in new deposits, enhancing customer trust during turbulent times. The conversation delves into the evolving banking landscape, highlighting the benefits of innovative banks over traditional models. Akhund also explores the dual role of founders as investors and the importance of community-driven capital raising in startups, showcasing the vibrant San Francisco fintech culture.

Immad Akhund, Founder & CEO of Mercury, shares insights from his journey in the startup ecosystem. He discusses evolving banking innovations and the significance of having an outsider's perspective. Akhund emphasizes the art of fundraising, highlighting how transparency can enhance relationships with investors. He also explores the nuances of presenting competition in pitches and the importance of having a strong vision as a founder. Plus, he reflects on how becoming a parent has shifted his approach to building companies.