Consortium in €20m series-A round for Memo Bank

The round also saw participation from Founders Future and several angel investors and entrepreneurs.

The company also announced that it has been given the seal of approval from the French banking authorities and the European Central Bank to be a fully-fledged bank.

Previous funding
In March 2018, Daphni led a €6.4m seed funding round for the company.

Company
Established in 2017 and headquartered in Paris, Memo Bank is an online bank targeting small and medium businesses (with €2-50m in revenues).

People
Memo Bank – Jean-Daniel Guyot, Michel Galibert and Tristan Pontet (founders).

Advisers
Equity – Gide (legal).
Company – Willkie Farr & Gallagher (legal).

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