Memo Bank Raises $22.5 Million in New Funding

July 6, 2020

Willkie represents Memo Bank in its $22.5 million (€20 million) funding round.

Memo Bank recently raised $22.5 million in a second round of funding and obtained licenses to operate as a credit institution. The funding round was backed by BlackFin Capital Partners, Bpifrance, Daphni as well as business angels such as Xavier Niel, Marc Simoncini, Jacques-Antoine Granjon, Thibaud Elzière, Rachel Delacour, Didier Le Menestrel among others. This second round will enable them to support the development and digitization of SMEs in France and in Europe.

Memo Bank has simultaneously obtained the license from the French regulator (Autorité de Contrôle Prudentiel et de Résolution – ACPR) and the European Central Bank (ECB) to operate as a credit institution, which was obtained on June 3, 2020. Memo Bank becomes the first independent bank created in France for more than 50 years.

The Willkie deal team was led by partners Daniel Hurstel and Gabriel Flandin and included associates Marie Aubard and Paul Dumas.