Immad Akhund is a serial entrepreneur and the CEO of Mercury, a FinTech Platform that was in the headlines recently for being the biggest beneficiary of the SVB crisis. In the 6 days after the crash, Mercury took in over $2B in new deposits from companies leaving SVB and raised FDIC insurance from 1 to 3 to $5M in a week.  (0:00) Intro(1:29) Adam Neumann's couch(4:03) No FinTech background(10:51) What is Mercury?(18:37) What does Mercury do?(27:14) Picking partner or sponsor banks(39:57) Uninsured deposits(50:59) What was the impetus for being so clear in your mission statement?(54:50) FDIC Insurance(1:09:35) Convoluted and esoteric US banking system(1:15:43) The day SVB played out(1:20:33) Why would you bank with anyone but JP Morgan?(1:24:30) The idea for Mercury(1:28:14) Will Mercury become a bank?(1:35:02) Tweeting Keith Rabois(1:40:02) Finding product market fit(1:46:31) Having a big network and strong relationshipsMixed and edited: Justin HrabovskyProduced: Rashad AssirExecutive Producer: Josh MachizMusic: Griff Lawson? Listen to the showApple Podcasts: https://podcasts.apple.com/us/podcast/three-cartoon-avatars/id1606770839Spotify: https://open.spotify.com/show/5WqBqDb4br3LlyVrdqOYYb?si=3076e6c1b5c94d63&nd=1Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5zaW1wbGVjYXN0LmNvbS9zb0hJZkhWbg ? Subscribe on YouTube: https://www.youtube.com/channel/UCugS0jD5IAdoqzjaNYzns7w?sub_confirmation=1Follow on Socials? Instagram - https://www.instagram.com/theloganbartlettshow? Twitter - https://twitter.com/loganbartshow? Clips on TikTok - https://www.tiktok.com/@theloganbartlettshow About the ShowLogan Bartlett is a Software Investor at Redpoint Ventures - a Silicon Valley-based VC with $6B AUM and investments in Snowflake, DraftKings, Twilio, and Netflix. In each episode, Logan goes behind the scenes with world-class entrepreneurs and investors. If you're interested in the real inside baseball of tech, entrepreneurship, and start-up investing, tune in every Friday for new episodes.