“Can a fully-licensed, API-first French bank displace both legacy incumbents and unlicensed neobanks for mid-market SME finance teams?”
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.
Memo Bank discloses Memo Bank SA (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Memo Bank does not disclose a bank charter of its own; its banking services are provided through Memo Bank SA (in-house).
Memo Bank processes payments through Memo Bank (self-operated). Disclosed money-movement rails: SWIFT and SEPA.
Memo Bank's lending and capital products are provided by Memo Bank SA (in-house).
Memo Bank connects to bank accounts through Memo Bank (self-operated AIS/PIS APIs).
Memo Bank uses J.P. Morgan for FX and cross-border payouts.
Memo Bank integrates with EBICS TS, PSD2 Open Banking API and Premium banking API.
The Embedded Finance Index 2026 maps 10 layers in Memo Bank's stack: Payments / PSP (Memo Bank (self-operated)); Money movement (SWIFT and SEPA); Banking / BaaS (Memo Bank SA (in-house)); Card issuing (Enfuce); Card network (Visa); Lending (Memo Bank SA (in-house), Business term loans (up to €1M, 1-7 years), Overdraft facility (up to €500K), Buy-now-pay-later on Visa corporate cards and 2 others); Open banking (Memo Bank (self-operated AIS/PIS APIs)); FX & payouts (J.P. Morgan); Accounting (EBICS TS, PSD2 Open Banking API and Premium banking API); Treasury (Memo Bank (in-house) and USD money market funds (via Memo Bank USD account)).
Memo Bank was founded by Jean-Daniel Guyot and is founded in 2017, headquartered in Paris, France.
Memo Bank has raised $46.7M in total (latest round: Later Stage VC, $18M).
Get a read on where your own stack stands against Memo Bank and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.