Case studies

Adsquare Remotely Opens Its French Subsidiary’s Bank Account

Find out how Adsquare, a German online marketing scale-up, successfully managed to remotely open a bank account for its French subsidiary through Memo Bank.

Adsquare Remotely Opens Its French Subsidiary’s Bank Account
Icone double flèches gauche

We were impressed by how easy the account opening process was.

Katharina Wodischeck

VP Global Finance

Company

company logo Adsquare

Adsquare is a German tech company specializing in location data analytics to refine the targeting of marketing campaigns.

Icone Etoile 2012
Icone Employés +100 employees
Marqueurs Berlin (Germany)
Customer
Katharina Wodischeck

Katharina Wodischeck

VP Global Finance

Adsquare’s needs

  • Be able to remotely open a bank account in France for its new subsidiary
  • Manage from Germany the capital deposit process for the new subsidiary
  • Partner with a French bank which provides an English banking interface
  • Having access to a dedicated relationship manager

Memo Bank’s solution

  • Fully digitised bank account opening and capital deposit process
  • Banking platform available in both English and French
  • Streamlined and easy-to-use services
  • Dedicated English-speaking relationship manager

Adsquare improves the efficiency of advertising campaigns by leveraging audience and location data

Adsquare, a German tech company, specialises in leveraging location data analytics to enhance marketing campaigns. It enables clients to target audiences based on their visited locations, real-time whereabouts, profiles, purchasing behaviours, and more.

Founded in Berlin in 2012, Adsquare has expanded its presence across most European countries, the United States, and Hong Kong, employing over 100 people globally.

Locaux de la scale-up allemande Adsquare

Adsquare's offices in Berlin (Germany)

Adsquare was looking to remotely open a bank account for its new French subsidiary

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Our tax advisors warned us that opening a bank account with a traditional bank would be time-consuming and paperwork-heavy.

Katharina Wodischeck

VP Global Finance

Portrait de Katharina Wodischeck, VP Global Finance d'Adsquare

In 2023, Adsquare decided to establish a subsidiary in France, in response to the substantial growth and expanding opportunities within this market.

In order to set up this subsidiary, Adsquare needed to open a French bank account to deposit the capital required for launching the new subsidiary, and to manage the operating transactions thereof. The French tax advisors working alongside Adsquare informed them that opening a bank account with traditional banks would be time-consuming and paperwork-heavy, and require people on site for physical signatures.

Yet Katharina Wodischeck, Adsquare’s VP of Global Finance, was looking for a quick and easy scenario in which she could manage everything from Germany. Besides, Adsquare didn’t have a finance team based in France.

Memo Bank provides an easy and fully remote account opening process

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The communication was always super smooth. Whenever we had any additional questions, they were answered promptly and in a professional manner.

Katharina Wodischeck

VP Global Finance

Portrait de Katharina Wodischeck, VP Global Finance d'Adsquare

Katharina Wodischeck reached out to an international network of CFOs, asking if they were aware of a bank that could help her. This network recommended partnering with Memo Bank.

Memo Bank’s services completely aligned with Adsquare’s requirements:

  • Remote and straightforward bank account opening and management

→ Memo Bank enables clients headquartered overseas to remotely open a French bank account. Contracts are signed electronically and the onboarding process is fully digitised.

  • Online capital deposit process

→ The capital deposit process is fully digitised and managed remotely.

  • English banking interface

→ Memo Bank’s platform is available in both English and French.

  • Ease in creating and adding new account users

→ The account’s administrator can add new internal and external users and set permissions in just a few clicks.

  • Access to a dedicated relationship manager

→ Memo Bank’s clients have their own relationship manager who proactively manages their needs

Katharina Wodischeck was impressed by how easy and efficient the account opening and capital deposit processes were. Memo Bank’s current account is now up and running, and the VP of Global Finance is now exploring if other Memo Bank’s services could help Adsquare in the future.

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