Kolet swiftly completes its capital increase and maximises yield on deposits

Kolet completed its capital deposit and capital increase with Memo Bank.

Autonomy in tracking funds and reaching out to investors

Memo Bank gives their clients read-only access to the escrow account (required for the capital increase). No need to send reminders to relationship managers to check whether a fund transfer has been completed or not. Kolet’s board members experienced full autonomy when checking the status of a fund transfer or reaching out to their investors. 

Capital funds transfer and deposit certificate

The deposit certificate was issued to Kolet in just 24 hours after receiving the funds from its investors. “This would have taken at least a week with traditional banks,” Eduardo Ronzano commented. 

Eduardo Ronzano made the most of our time deposits and instant access savings accounts to maximise Kolet’s surplus cash. 

A term deposit for longer term returns

“Upon receiving the funds from the capital increase, and as the level of yield was quite interesting, we managed to open a term deposit account in less than an hour”. Eduardo Ronzano initially put €3.6 million on our time deposit, allowing Kolet to earn  €135,000 in interest. “Earning such a level of interest during our launch phase was key,” Eduardo Ronzano commented. 

Interested in its unique feature allowing for penalty-free (full or partial) withdrawals, Eduardo Ronzano put additional funds into a second time deposit. “Through Memo Bank’s term deposit, we can earn competitive interest and access funds by just giving 32 days’ notice.”

An instant access savings account for shorter term returns

“The Booster account offers a competitive rate and its instant access nature made it very interesting to us”, Eduardo said. Through the product’s cash sweeping feature, Kolet can define a target balance on its current account, which will trigger the automated transfer of funds between the current account and the Booster savings account.

Access to an interest-bearing current account from the first euro

For everyday banking operations (card expenses, SEPA credit transfers, etc.), Eduardo Ronzano and his team enjoy using our remunerated current account.
“The most interesting aspects of Memo Bank compared to traditional banks come from its real time capabilities and the autonomy it gives in managing transactions,” Eduardo Ronzano commented. Emphasizing the importance of speed in the current macroeconomic context, he adds: “When coupled with impeccable human support, simple account opening, and remunerated deposits, Memo Bank is definitely a real game-changer for managing our company’s finances.”