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

"I tried every banking option out there, but they always fell short – either too clunky or simply inaccurate. That frustration led me to gamble my savings on an idea: to build a finance app that didn't make managing money a chore."

The Skeptics

"Many thought I was diving into an oversaturated market where traditional banks had already won. But as Mercury began taking shape, I knew I had something special. My friends were finally using the app out of genuine preference, not as a personal favor."

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 has grown more in recent months than in its first four years combined, reaching 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