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Mercury restricted a number of accounts linked to African startups and didn’t exactly say why


Yesterday, Mercury, which describes itself as a bank for startups, restricted several accounts linked to African tech startups, TechCrunch has learned. 
The number of companies involved with this restriction is unknown. But several sources told TechCrunch that they range from a dozen to 30 — including well established YC-backed startups and newer upstarts. 
According to our sources, Mercury did not give any prior notice that it would take this action, nor did it explain why the action was taken in its first email to the affected startups. 
“Hi, Your access to the Mercury account for [company’s name] has been temporarily restricted. Let us know if you have any question or concerns,” read the first email Mercury sent out. 
Upon further questioning, Mercury, which holds over 4 billion in customer deposits for its 40,000+ businesses …

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