# Memo Bank

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/memo-bank

- Industry: Financial Services
- Headquarters: Paris, France
- Website: www.memo.bank
- Total disclosed funding: $24M
- Latest round: Series A (Jun 21, 2021)
- Investors on record: 4

## About

Based in France, Memo Bank SA specializes in providing innovative banking solutions for businesses, focusing on cash flow optimization and streamlined financial operations.Memo Bank SA, founded in 2017, operates out of Paris, France, offering tailored banking services to businesses. The company has successfully completed 4 deals, with its most recent funding round in July 2023, led by Daphni, raising EUR 16.475 mn. The founders include Azar Mammadov, Emily Marchese, Jean-Daniel Guyot, Laure LAMBERT, Matthieu Barral, Tristan Pontet, and Xavier Lagarrigue, with Emily Marchese and Jean-Daniel Guyot serving as co-CEOs. Memo Bank, a pioneer in modern banking solutions, has not undergone significant strategic pivots since its inception.Memo Bank offers a suite of specialized banking services designed specifically for businesses, focusing on optimizing cash flow, automating financial transactions, and enhancing overall operational efficiency. The company's core products include business accounts, a liquidity account offering competitive interest rates, and tailored financial solutions such as credit facilities and API integrations for real-time payment processing. These services cater primarily to financial intermediaries and corporate clients, enabling them to manage their banking operations autonomously while ensuring compliance with safety regulations. Memo Bank's products are available across various European markets, targeting businesses of varying sizes that require modern banking solutions to streamline their financial operations and mitigate risks associated with transactions. By providing real-time transaction management and automated cash flow solutions, Memo Bank addresses critical use cases such as fraud prevention and financial reconciliation for its clients.In the most recent fiscal year of 2022, Memo Bank reported a revenue of EUR 589,573.10 with an EBITDA of EUR -8,344,254.70. The revenue model is built around offering comprehensive banking solutions to its business clientele, generating income through account management fees, transaction fees, and interest from credit facilities. The company operates on a B2B structure, facilitating transactions between itself and a diverse range of corporate clients across Europe.In July 2023, Memo Bank SA raised EUR 16.475 mn in venture funding to support its growth initiatives. The company plans to leverage this funding to enhance its existing product offerings and develop new financial solutions tailored for emerging business needs. Additionally, Memo Bank aims to expand its market presence into new European regions, focusing on increasing its client base within the next 18 months. This strategic growth will include the launch of new products designed to improve cash management and financial automation for businesses.

## Funding rounds

- Series A, Jun 21, 2021, $15M — BlackFin Capital Partners, Serena, Daphni
- Series A, Mar 1, 2018, $8.2M — Kima Ventures, Daphni

## Investors

- Kima Ventures (https://capitalatlas.ai/funds/kima-ventures) — Series A
- Daphni (https://capitalatlas.ai/funds/daphni) — Series A
- BlackFin Capital Partners (https://capitalatlas.ai/funds/blackfin-capital-partners) — Series A
- Serena (https://capitalatlas.ai/funds/serena) — Series A