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Mercury: The unbundling of Silicon Valley Bank

Mercury provides banking services to SMEs via a web portal, with a specific focus on startups. The company offers its services under the banking license of Evolve Bank & Trust. Our content partner Sacra notes that after the Silicon Valley Bank collapse last week, more than USD 3 billion in funds have flowed through the startup ecosystem to neobank startups, particularly Mercury and Brex. This catalyzing event allows Mercury to aggregate startup demand, build the Booking.com of startup banking, and create a new gathering place for tech startups and capital.

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