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 productsChecking and SavingsCredit Cards and expense managementTreasuryVenture DebtIn 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 covid2021 ecommerce boom & tech bubble2022 tech crash2023 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.
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