Immad Akhund is a British-Pakistani serial entrepreneur who had the idea for a startup bank since 2014 but needed the right timing and experience first.

The Background

Before Mercury, Immad was CEO and co-founder of Heyzap, a mobile developer tools company that sold for $45M in 2016. He started his entrepreneurial journey 16 years ago as a recently graduated engineer from Cambridge.

The Insight

Immad had grown frustrated with existing business banking options for startups, which he found clunky and poorly suited to how founders actually operate. That frustration pushed him to build a finance app focused on speed and clarity instead of legacy banking friction.

The Skeptics

Many observers assumed the market was oversaturated, with traditional banks and fintech incumbents already dominant. Mercury's growth suggested otherwise, as startups adopted it by choice rather than obligation.

The Launch

Mercury launched in January 2019 and quickly became the go-to banking platform for startups. The onboarding experience was revolutionary - accounts approved in under a day with a beautiful, intuitive interface.

The Growth

Mercury scaled to 100,000+ subscribers and a $3.5B valuation.

Profitability

Thanks to a disciplined small team and focus on product, Mercury achieved profitability in 2023 - a rare feat for a startup of its scale.

• Founded: 2019
• Previous exit: $45M (Heyzap)
• Valuation: $3.5B
• Users: 100,000+
• Profitable: 2023