Back
Mercury
Financial Infrastructure for Businesses
Company website ↗About
Mercury was established with the mission of improving banking for startups. As an online bank, Mercury offers business banking services such as virtual debit cards and software to connect bank accounts with payment processors. The company's aim is to empower businesses by providing a zero-fee banking stack, which includes a business checking and savings account.
Prior to the collapse of Silicon Valley Bank (SVB) in March 2023, Mercury was primarily recognized for offering startups business banking solutions and venture debt. Following SVB's collapse, Mercury adopted a new role as a startup savior. Within a weekend, the company launched Mercury Vault, a new product providing $5 million in FDIC insurance through partner banks and their sweep networks, which transparently distribute deposits across multiple banks to increase FDIC insurance coverage.
As SVB was faltering, 8,700 new customers transferred over $2 billion in deposits to Mercury. These customers remained loyal, quadrupling Mercury’s annualized revenue run rate and setting the company on a path to nearly double its transaction volume for the year. Additionally, YC graduates continue to choose Mercury for their banking needs, with over 50% of each cohort signing up.
Headquarters
San Francisco, CA, US
Team
CEO & Founder - Immad Akhund; COO, Co-Founder - Jason Zhang
Main competitors
Brex, Ramp, Silicon Valley Bank (SVB)
Investors
Sapphire Ventures,
CRV,
Chapter One Ventures,
Homebrew,
Caffeinated Capital
Calls within Tajikistan are free
Investments
Information
The information provided is for informational purposes only and should not be considered as an offer to buy or sell foreign currency, securities and/or other financial instruments. The information presented on this website is not an individual investment recommendation. Financial instruments or transactions mentioned in this section may not be suitable for you, may not correspond to your investment profile, financial situation, investment experience, knowledge, investment objectives, attitude to risk and profitability.
LLC "Exchange Broker" does not guarantee and does not promise future profitability of investments, does not guarantee the reliability of possible investments and the stability of possible income. Investment results in the past do not guarantee income in the future.
LLC "Exchange Broker" is not responsible for possible investor losses in the event of transactions and investments in financial instruments, and also does not guarantee the return, effectiveness and profitability of investments.
LLC "Exchange Broker" hereby informs that it operates in the securities market in accordance with the following professional participant licenses issued by the Ministry of Finance of the Republic of Tajikistan: depository activity No.010/25 dated 25.06.2025; brokerage activity No.007/25 dated 25.06.2025; dealer activity No.008/25 dated 25.06.2025 and securities management activity No.009/25 dated 25.06.2025, and also informs about the risk of a conflict of interest, including as a result of combining various types of professional activity in the securities market.