Other companies in the market

Mercury - a bank based in the US focused on start-ups:

  • They’re using Y-Combinator as a way of onboarding early stage start-ups straight onto their platform.
  • Only running a web-app and an iOS app atm
  • Interesting that the second highest section on their FAQs is ‘Security and Privacy’
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Thanks @ollie.r.parsons!
Mercury seem to have taken a similar approach to Brex, where they target startups backed by reputable VC funds, and capture them in the early stage and grow with them.
Personally, I feel it’s an interesting approach that has worked in the US (for Brex) due to there being a much larger start-up community and deeper pool of venture funding.
@wwhite003, may be able to offer more context on how Mercury are tracking in the US :slight_smile:

@ollie.r.parsons Were there any particular features that you liked / stood out to you?

Great question @Daniel - thanks for asking. So I really like their open API docs that allow businesses to be more flexible with their internal reporting and payment tracking. There’s some cool API opportunities in Australia with Open Banking and also getting NPP access. Also, It sounds strange suggesting pricing as a ‘feature’ I like, but there 2-tier pricing structure means the barrier for entry is v low, which works well for their target market (especially as some will eventually scape to their 2nd level of pricing).

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Mercury are quietly doing good work. They’re not growing as aggressively as Brex, but the growth feels more sustainable

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