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Formerly known as Margo Bank, the newly named Memo Bank, a French fintech, is launching its exclusive business offering, which is set to tap small and medium-sized enterprises (SMEs). Alongside its launch and lending licence, the start-up has landed a €20 million funding round led by Paris-based, BlackFin Capital Partners | Investors in Financial Services, and existing French investors, Daphni and Bpifrance Digital Venture.
The bank targets SMEs that generate over €2 million a year and houses more than ten employees. Its key focus will be on delivering paperless credit lines to businesses in just a few days, directly competing with France’s online lenders, rather than the country’s neobanks.
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Memo Bank launches business offering and lands €20m - FinTech Futures
Memo Bank has launched its business offering which is set to tap SMEs, in addition to obtaining a licence and securing a €20 million funding round.
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