Mercury

Mercury

Mercury is a company making banking products for startups based in San Francisco and backed by a16z.

Mercury is a bank focused on serving startups that is headquartered in San Francisco, California and was founded in 2017 by Immad Akhund, Jason Zhang and Max Tagher. The company officially began offerings its services on April 17, 2019 after announcing the launch of their private alpha in a blog post written by the companies co-founder Immad Akhund. The companies startup banking software product focuses on creating a simple user interface, the ability to offer financial services, and company insight through data Mercury has on each startup company using their products and services. Mercury startup bank accounts come with the following features: checking account, savings account earning 1-1.75% interest, debit cards, ACH payments, check payments, domestic and international wire transfers, and access to their web application.

Funding

They have received funding from: Andreessen Horowitz, L2 Ventures, Eric Wu, Joshua Reeves, Roger Smith, Howie Liu, Justin Kan, Tikhon Bernstam, James Beshara, Matt Humphrey, Tomer London, James Tamplin, Jude Gomila, Max Mullen, Zach Coelius, Bill Clerico, Jared Friedman, Naval Ravikant, Zach Perret, Elad Gil, John Bautista, and Qasar Younis.

Seed

In August 2017 Mercury completed their seed funding round with $6 million in funding from Andreessen Horowitz (lead investor), Naval Ravikant, Roger Smith, Justin Kan, Joshua Reeves, Jude Gomila, Tomer London, Max Mullen, and Zach Perret.

Timeline

September 26, 2019

Mercury raises a $20,000,000 series A round from Andreessen Horowitz, Charles River Ventures, Kevin Durant, Ryan Petersen, Scott Belsky and Kevin Hartz.

April 17, 2019

Mercury launched to the public

The launch was announced in a blog post.

August 18, 2017

Mercury was founded by Immad Akhund.

August 2017

Mercury raises a $6,000,000 seed round from Andreessen Horowitz.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
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People

Name
Role
LinkedIn

Immad Akhund

Co-founder and CEO

Jason Zhang

Co-founder

Juliana Vislova

Product Designer

Max Tagher

Co-founder

Further reading

Title
Author
Link
Type
Date

Mercury opens bank for startups with funding from Andreessen Horowitz

Dean Takahashi

Web

April 17, 2019

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

References

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