Akhund: Mercury avoided an overcrowded neobank market by launching in 2019
Immad Akhund · How Mercury Hit $500M ARR—then raised $300M from Sequoia at $3.5B. | Immad Akhund, CEO & Founder ... · PMF Show · Jul 21, 2025 · at 15:39
Mercury founder and CEO Immad Akhund reflects on company timing, noting that banking-as-a-service enabled an influx of new neobanks between 2020 and 2021.
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“If we hadn't launched in 2019 and built up like a little bit of a lead, it would have been probably like an overly competitive space by 2020, 20, 21.”
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