Sometimes a bank compliance team can not legally say why a bank applicant is not approved. In those situations we can also not tell an applicant that, that is the case.
Though that is pretty rare, if you email me your company name/email I can take a look to see if I can provide more insight. We generally try to accept everyone we can legally accept if they are not in a prohibited industry etc.
Exporting - From my understanding the CSV format matches the QB specification. Are you saying that it matching the filters is an issue or that the format is incorrect.
Treasury for nonprofits - We only just launched Treasury (in December) and nonprofits are a relatively small part of our business so this hadn't come up during our alpha. I am going to investigate why our clearing house does not support nonpfotis, and make sure the restrictions is clearly stated.
Tea Room Deals/Perks - We recently launched this https://mercury.com/perks. Did you see this already and it doesn't match what you want or did you miss it?
Tea - We were revamping the tea packaging so it might be on pause right now. But we do really ship some pretty nice tea normally :).
The other thing that you get with tea room is free domestic + international wires.
Anyway, I can see why your experience was disappointing. I really appreciate the feedback and hopefully we can improve to deliver something better in the future.
We have a QB export compatible file. It's an export button on the top of our transactions page and has date, description, amount, status, bank description, reference and notes as column.
I don't think we have specific documentation of that feature, but I am happy to demo it. Our api documentation is here: mercury.com/api.
I am sure there is something specific Tyler was talking about. Would love to learn what it is so we can fix it.
99% of the time Plaid functionality is used to transfer money from your previous business bank account to Mercury. In that scenario it's useful to have balance information.
Most people transfer money from personal account via another means (checks, wire etc). Though agreed that it's bad when a personal account is used and the balance is leaked to cofounders.
We make money on debit card usage (interchange) and deposits that sit with us. We will be adding a couple of other revenue streams this year.
We have pretty good unit economics and the bigger we get the more money we make. Agreed that you should be skeptical of anything that makes a loss on a per user basis.
I don't think CSS modules are the issue to making it responsive. We just decided to focus the design/engineering resources on making mobile apps instead of responsive web app.
Ideally we would do both though, and hopefully we can in the future.
Mercury | React+Typescript, Haskell Engineer, Support, BD | San Francisco, CA | Full-time | ONSITE or REMOTE (US)
Mercury (mercury.com) is building banking products for startups. We are currently ~30 people and have raised $26m from top tier investors (A16Z, CRV, and more).
We launched less than a year ago (April 2019) and have 5k+ happy customers.
This is my 4th company. My previous company, Heyzap, was YC09, was funded by USV and was acquired for $45m.
Appreciate the feedback.