Neobank for startups Mercury started issuing corporate credit cards, thus expanding the range of its services and acquiring a new source of revenue.
The CEO of the company, Immad Akhund, told Forbes that since the end of last year, the number of neobank customers has almost doubled: from 45,000 users to 80,000.
Akhund also mentioned the company has spent only $30 million of the $120 million in funding it raised in an investment round last July.
Therefore, neobank still has $90 million left for development and operating expenses. According to Akhund, this capital is more than enough to wait out a difficult market situation.