Mercury, a business banking startup founded in 2020, is now venturing into the world of consumer banking. With over 100,000 business clients, many of which are startups, Mercury has established itself in the B2B sector.
The expansion into consumer banking has been a strategic move that has been in the works for a couple of years, according to Immad Akhund, Mercury’s co-founder and CEO.
Mercury has already built a robust user base for its business banking product, and the demand for personal banking services from its users has been growing. The company aims to cater to power users who require advanced features like wire transfers and support for multiple users.
By offering features such as multiple debit cards with custom limits, up to $5 million in FDIC insurance, and interest-bearing savings accounts, Mercury hopes to attract its existing business clients to its consumer banking services.
