Memo Bank’s €20 Million Round Funding

Memo Bank's €20 Million Round Funding

Willkie Farr & Gallagher represented Memo Bank in the transaction.

Memo Bank 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 advising Memo Bank was led by partners Daniel Hurstel (Picture) and Gabriel Flandin and included associates Marie Aubard and Paul Dumas.

Involved fees earner: Marie Aubard – Willkie Farr & Gallagher; Gabriel Flandin – Willkie Farr & Gallagher; Daniel Hurstel – Willkie Farr & Gallagher;

Law Firms: Willkie Farr & Gallagher;

Clients: Memo Bank;

Author: Ambrogio Visconti