The Medici Bank: How a Family of Bankers Ruled Europe

Before the Medici became dukes and popes, they were bankers. In this episode, Lucas and Luna explore the rise of the Medici Bank, the most powerful financial institution of the 15th century. They trace its origins under Giovanni di Bicci de' Medici, its expansion under Cosimo de' Medici, and its innovative business practices—from the holding company structure to the invention of the letter of credit. They discuss how the bank financed popes, kings, and cathedrals, and how its collapse in the 1490s foreshadowed modern banking crises. Along the way, they touch on key figures like Francesco Sassetti, the manager of the Lyon branch, and the Bruges branch that handled the wool trade. They also explore the bank's role in art patronage and its influence on Renaissance Florence. This episode offers a concrete look at how money really worked in the Renaissance, without romanticizing the Medici or reducing them to villains. #MediciBank #GiovannidiBicci #CosimodeMedici #RenaissanceBanking #Florence #FrancescoSassetti #LorenzodeMedici #LetterOfCredit #BankingHistory #RenaissanceFlorence #ItalianHistory #FinancialHistory #15thCentury #Medici #FexingoHistory #History #Podcast #TheStoryOfItaly Keep every episode free: buymeacoffee.com/fexingo