Industry | Financial technology |
---|---|
Founded | 2017[1] |
Founders | Immad Akhund Max Tagher Jason Zhang [2] |
Headquarters |
San Francisco, California , |
Key people | Immad Akhund (CEO) Max Tagher (CTO) Jason Zhang (COO) [2] |
Products | Banking services |
Number of employees | 470 [3] (2023) |
Website |
mercury |
Mercury is an American fintech company that provides banking services to early stage start-up companies. The company is not a bank, but works with banking service providers to provide bank accounts and other financial services. [4] The company was founded in 2017 in San Francisco, California. [1]
Mercury was founded in 2017 by Immad Akhund, Max Tagher, and Jason Zhang. [1] Mercury's business bank launched in 2019. [1] In March 2022, the company began offering venture debt services to its customers. [5] In September 2022, the company launched a corporate charge card. [1]
In March 2023, Fast Company named Mercury one of the ten most innovative companies in finance. [6] The company is also on Forbes' 2023 Fintech 50 list for private companies. [7] The company reportedly gained a significant number of new customers and deposits in the wake of the March 2023 Silicon Valley Bank failure. [3]
Mercury offers banking services to customers, primarily early-stage startups. [8]
The company is not a chartered bank, and is therefore unable to lend against deposits. Instead, it partners with regional bank networks to hold customer's deposits. Its main bank partners are North Dakota-based Choice Bank and Tennessee-based Evolve Bank and Trust, which have a network of regional banks. [9] This network gives customers access to a sweep network of other banks such as Goldman Sachs and Capital One. [4] Customer deposits of up to $5 million can be spread out across multiple accounts that are each under the FDIC's $250,000 insurance limit. [9]
The company provides a corporate credit card called Mercury IO. [10]
The company also operates Mercury Raise, a service connecting customers with investors. [11]
Industry | Financial technology |
---|---|
Founded | 2017[1] |
Founders | Immad Akhund Max Tagher Jason Zhang [2] |
Headquarters |
San Francisco, California , |
Key people | Immad Akhund (CEO) Max Tagher (CTO) Jason Zhang (COO) [2] |
Products | Banking services |
Number of employees | 470 [3] (2023) |
Website |
mercury |
Mercury is an American fintech company that provides banking services to early stage start-up companies. The company is not a bank, but works with banking service providers to provide bank accounts and other financial services. [4] The company was founded in 2017 in San Francisco, California. [1]
Mercury was founded in 2017 by Immad Akhund, Max Tagher, and Jason Zhang. [1] Mercury's business bank launched in 2019. [1] In March 2022, the company began offering venture debt services to its customers. [5] In September 2022, the company launched a corporate charge card. [1]
In March 2023, Fast Company named Mercury one of the ten most innovative companies in finance. [6] The company is also on Forbes' 2023 Fintech 50 list for private companies. [7] The company reportedly gained a significant number of new customers and deposits in the wake of the March 2023 Silicon Valley Bank failure. [3]
Mercury offers banking services to customers, primarily early-stage startups. [8]
The company is not a chartered bank, and is therefore unable to lend against deposits. Instead, it partners with regional bank networks to hold customer's deposits. Its main bank partners are North Dakota-based Choice Bank and Tennessee-based Evolve Bank and Trust, which have a network of regional banks. [9] This network gives customers access to a sweep network of other banks such as Goldman Sachs and Capital One. [4] Customer deposits of up to $5 million can be spread out across multiple accounts that are each under the FDIC's $250,000 insurance limit. [9]
The company provides a corporate credit card called Mercury IO. [10]
The company also operates Mercury Raise, a service connecting customers with investors. [11]