Case studies

Kolet swiftly completes its capital increase and maximises yield on deposits

Discover how Kolet experienced a transparent and smooth capital increase process and maximised its yield through our suite of savings accounts. 

Kolet swiftly completes its capital increase and maximises yield on deposits
Icone double flèches gauche

We were able to check the balance on the escrow account, along with reaching out to our investors, all in real time.

Eduardo Ronzano

Cofounder and CEO


company logo Kolet

Kolet is an app that allows its users to access mobile internet abroad at a reduced cost, via eSIMs—virtual SIM cards.

Icone Etoile 2023
Icone Employés 16
Marqueurs Paris (75)
Eduardo Ronzano

Eduardo Ronzano

Cofounder and CEO

Kolet’s needs 

  • Partner with a modern bank offering streamlined processes for capital deposit and capital increase
  • Access to a dedicated relationship manager and a proactive customer service team 
  • Deposit the raised funds into high-yield savings accounts

Outcomes achieved with Memo Bank

  • Support from Memo Bank on the entire capital deposit and capital increase processes 
  • Deposit certificate obtained in just 24 hours after receiving the transfer  
  • Highly proactive and experienced relationship managers and customer service team
  • €135,000 earned in interest through time deposit and instant access savings accounts

Kolet is the leading provider of reliable and affordable mobile connectivity for travellers

Kolet is a new French start up offering travel eSIMs cards, i.e. virtual SIMs that enable access to mobile internet abroad at reduced rates. Kolet’s eSIMs are currently available in 140+ countries, with plans to have a coverage of 190 countries+ by July 2024. Kolet collaborates with key players from the travel industry (airlines, online travel agencies, airports, etc.) and provides free eSIMs with 1 GB of data to clients using the services from these players, hence facilitating access to the internet while travelling overseas. Kolet was created in 2023 by four experienced co-founders in the French tech ecosystem, including Eduardo Ronzano, co-founder of KelDoc and now CEO of Kolet. The startup completed its first funding round (€5 million) in March 2024, with investments from Daphni, 9900 Capital, and business angels.


Illustration de la start-up Kolet

Kolet eSIM offers fast and affordable prepaid mobile connectivity for travellers

Several weeks saved to complete the capital deposit and capital increase processes

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Once the funds had been transferred, it only took 24 hours to be issued with the deposit certificate.

Eduardo Ronzano

Cofounder and CEO

Eduardo Ronzano, cofondateur et CEO de Kolet

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. 

€135,000+ of interest earned through term deposit and instant access savings accounts

Icone double flèches gauche

Memo Bank’s term deposit account enables locking in the yield in advance while also allowing access to funds with just 32 days' notice.

Eduardo Ronzano

Cofounder and CEO

Eduardo Ronzano, cofondateur et CEO de Kolet

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.”


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