It charges an average annual 0.12% fee for money parked on its T-bill platform, though that varies by customer, Arvanaghi says. Similarly, it collects a small interest rate spread on the checking accounts through its bank partners.
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
is a rapidly growing US-based business banking fintech that offers startups and high-growth companies high interest checking accounts, high cashback cards, low-fee invoicing, and all the financial products startups need to operate at the most affordable price possible.
Editor’s note: This story was updated to reflect the fact that Mercury and Brex offer customers returns through money market mutual funds, not high yield bank accounts.
This automation enables Meow to efficiently handle the lowest-risk cases while significantly enhancing the efficiency of their compliance team’s review.
. "Their intelligent controls and automated solutions have allowed us to continue scaling thoughtfully, knowing that we have robust fraud detection in place in addition to our existing processes.
Once approved, businesses often had to dedicate engineering or trading resources to operate and secure these accounts, creating significant friction and delaying access to liquidity.
They were equally opportunistic when it came to choosing a name for their startup; the whimsical Meow was picked for its ability to grab attention on social media. Indeed, as SVB teetered, one VC with a healthy following posted on LinkedIn: “We are living in such a stupid timeline.
Mercury also has a venture debt platform where meow business startups can apply to receive funding from venture capitalists and saw large inflows during the fall of SVB. Arvanaghi is uncowed. “This pie is enormous and we're just getting started,” he says.
But the arrangement also typically requires the fintech to follow ground rules set by the partner bank, including parameters around the types of client they are allowed to serve. Mercury, for instance, is unable to provide accounts to copyright companies that take custody of customer funds, including exchanges, a spokesperson told WIRED.
“What we're doing differently is we're treating financial services as a low-margin product,” Arvanaghi says. “We can actually become a profitable company by doing that, but that might not be the case for a company that has a thousand people or another fintech that hired 500 people.”
“Meow, when you think about them as kind of a general store for all of these financial products, they're going to have to have their hooks into lots of different things,” says Frank Rotman, cofounder of QED and a lead investor in Meow’s 2022 fundraising.
And in 2024, the company hit profitability and tripled its customer accounts. “Some of the biggest copyright companies in the world are using Meow right now,” said Arvanaghi.
copyright exchanges did not offer critical controls such as spending limits, approval flows, or visibility across teams. Without these safeguards, USDC operations introduced unnecessary risk and complexity for finance leaders responsible for managing treasury at scale.
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