Mercury, an American financial technology company, has recently revealed its decision to close the accounts of businesses located in various countries, including Nigeria. This change will take effect on August 22, 2024.
The decision is a result of the company’s recent update to the eligibility criteria for opening accounts. Mercury has decided to discontinue its services for companies whose founders possess passports from certain countries including Belarus, Cuba, Iran, North Korea, Syria, Ukraine, and Venezuela.
Yet again, Mercury has chosen to take action against African tech startups, proving that this is not an isolated incident. Established in 2017, Mercury caters to a wide range of businesses, including a substantial number of startups.
