Memo Bank
“Can a fully-licensed, API-first French bank displace both legacy incumbents and unlicensed neobanks for mid-market SME finance teams?”
Founded2017
HQParis, France
FoundersJean-Daniel Guyot
Total raised$46.7M
Latest roundLater Stage VC, $18M
IndustryBank / National
The story
Founded in 2017 as Margo Bank by former Capitaine Train CEO Jean-Daniel Guyot, the company rebranded to Memo Bank ahead of its 2020 public launch. After a multi-year regulatory push, Memo Bank became the first new French credit institution since 1970, targeting mid-market SMEs (€2M–€50M turnover) underserved by legacy banks and neobanks alike. The company has since built a real-time API-first banking platform with SEPA/SWIFT payment automation, virtual IBANs, corporate cards, USD accounts, and money-market fund access — positioning itself as an infrastructure-grade bank for finance departments.
Last 12 months
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Product timeline
2017
Founded as Margo Bank (later renamed TrustBK, then Memo Bank).· founding
2020
Obtained credit institution license from ACPR and ECB — first new French bank license since 1970.· banking
2020
Public launch as Memo Bank targeting SMEs with €2M–€50M turnover; raised €20M Series A.· banking
2024
Launched USD current account with J.P. Morgan FX partnership.· banking
Regulated entities
1
regulatory licence held by Memo Bank
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
Same company
Memo Bank was analysed under more than one name on the same domain, so its stack is split across these dossiers. Each was analysed independently and may name providers the others do not.
The stack
9 layers disclosed in Memo Bank’s embedded-finance stack
Payments / PSP
Memo Bank (self-operated)
Money movement
in the full report
Banking / BaaS
in the full report
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
Open banking
in the full report
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: minor
16 more providers across 8 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.