Mercury introduced a new service called Mercury Vault designed to provide startups with secure fund management solutions, including up to $5M in FDIC insurance via sweep networks.
Mercury works with partner banks, Choice Financial Group and Evolve Bank & Trust, to spread a customer's deposits across multiple banks, maintaining ease of access within the Mercury dashboard.
Vault by Mercury also allows for investment in money market funds comprising short-term U.S. Treasury bills, offering protection beyond the FDIC insured amount.
In light of recent startup ecosystem challenges, Mercury emphasized their commitment to offering accounts that protect client funds and reduce risks of single points of failure.
The system monitors and suggests optimal actions to protect funds within the Mercury suite of services, continually aiming to expand client protections.

Mercury offers specialized banking services for over 100,000 venture-backed and bootstrapped startups. They provide FDIC-insured checking and savings accounts, employee debit and credit cards with custom limits, and payment capabilities through ACH, wires, checks, and foreign exchange. Startups can confidently scale with Mercury's advanced tools, which include seamless integrations with other financial platforms like QuickBooks and Stripe. Furthermore, founders can benefit from resources such as an investor database, startup guides, and Mercury Raise, a platform connecting founders with investors. Their banking platform is designed for fast-paced startups, with efficient automation, robust controls, and zero monthly fees.

Mercury

Startup-focused banking, card issuing, cashback, integration, community resources, FDIC-insured.

Mercury Launches Vault for Enhanced Startup Fund Security

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