Explore how Kiln accelerated its capital increase with international investors through Memo Bank’s real-time tracking platform.
Memo Bank offers the best product experience in the banking industry.
Thomas de Phuoc
Cofounder and COO
Company
Kiln develops reward solutions for users of digital wallets, exchanges, and other cryptocurrency security solutions.
2018
60 employees
Paris (75009)Thomas de Phuoc
Cofounder and COO
Kiln’s challenges
Memo Bank’s solution
The fundraising was accelerated because:
Kiln develops reward solutions for users of electronic wallets, exchanges, and other cryptocurrency security solutions. These reward solutions mainly come from staking activities, a process of holding cryptocurrencies in a wallet to receive rewards, thus transforming assets into a source of income.
In its previous fundraisings, Kiln regretted thelack of transparency regarding the status of investors’ transfers and the lack of responsiveness from banking partners.
For this latest fundraising, Thomas de Phuoc, cofounder and COOof Kiln who oversaw financial and legal operations, sought a more responsiveandexperienced banking partner.
Memo Bank is the only French bank offering totrack in real timethe transfers on the capital increase account. Thomas de Phuoc has visibility at all times on the received transfers, their dates, and the issuing entities. “This feature is very handy, because it allows us to autonomously follow up with investors” especially those based in England, in the United States, or in Luxembourg.
A capital increase can be complex when investors are spread across the globe. In this context, “being supported so smoothly by a bank in the collection and certification process, through an efficient product and a responsive customer service, is really great because it makes our daily lives easier,” says Thomas de Phuoc, adding: “Getting a response on the same day, especially on compliance questions, rather than in 3 days, multiplied by the number of investors, can make a difference of weeks or even months.”
Furthermore, during this round, Kiln benefited from Memo international transfers available in the most widely used currencies worldwide and at attractive exchange rates.
Thanks to this successful capital increase, Kiln is ready to welcome new investors, expand its client portfolio, design new products, and internationalize its activities with the opening of offices in Singapore and New York. Finally, in addition to being able to manage its capital increase under the best conditions, Kiln also enhances its treasury thanks to the interest generated by Memo Bank’s Booster account.
Are you considering a capital increase? Let’s talk about it.
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Memo Bank is a limited company (Société Anonyme) with an Executive Board and a Supervisory Board with a capital of €13,084,327.35 and accredited as a credit institution by the European Central Bank and regulated by the French Prudential Supervision and Resolution Authority (4 place de Budapest, 75009 Paris).
Use cases
Do you need to release orders quickly with your suppliers? Fulfill your commitments without tapping into your liquidity too early? At Memo Bank, everything is designed to accelerate your execution speed
Use cases
Do you need to release orders quickly with your suppliers? Fulfill your commitments without tapping into your liquidity too early? At Memo Bank, everything is designed to accelerate your execution speed
