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After securing credit license and EUR 20 mln funding, Memo Bank to launch business bank

Friday 26 June 2020 14:13 CET | News

France-based startup Memo Bank has announced plans to launch publicly to serve business customers and small and medium companies.

Memo Bank is a credit institution and has obtained the proper licenses from the French regulator (ACPR) and the European Central Bank. The startup has raised a EUR 20 million funding round from BlackFin Capital Partners, Daphni, and Bpifrance. Founders Future and business angels are also joining the round. Memo Bank had previously raised USD 7.6 million in 2018.

The company has developed its own core banking infrastructure and wants to offer business bank services, including credit lines. At first, Memo Bank is going to accept clients in the Paris area. For now, the company will not have any physical branches, according to TechCrunch.

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Keywords: Memo Bank, business bank, credit license, funding, SME, ACPR, European Central Bank
Categories: Banking & Fintech
Companies:
Countries: France
This article is part of category

Banking & Fintech