Swan, the emerging leader in embedded finance, is raising a 37 million euros Series B round led by Lakestar, just two years after its Series A round. Swan's mission is clear: to strengthen its European market strategy and become the continent's leading tech-driven bank. With high ambitions, a more-than-ready team, and evident traction, this funding round will equip them to deliver on their mission.
Swan’s European rise
Born in 2019 within our startup studio eFounders, Swan is one of these one-of-a-kind startup success stories. In just a few years, Swan has grown to a team of 150 people with offices in France, Germany, Spain, and upcoming locations in the Netherlands and Italy. They serve over 100 customers across 10 European countries and have processed more than €7 billion in transactions. And they plan to double their team size over the next two years.
We are incredibly proud of everything that Swan's founders - Nico Benady, Nicolas Saison, and Mathieu Breton - have achieved, as well as their team. Securing such a substantial amount of funding in the current market climate, particularly for a Series B round, is a remarkable achievement. It's a testament to the team's dedication and capabilities, their product excellence and sales expansion.
More than a simple fintech
Swan’s Banking-as-a-Service (BaaS) platform is the easiest way for companies to embed banking features. A leader in embedded finance, Swan has developed a simple API so that European companies can integrate banking services (accounts, cards and payments) quickly and easily into their own product.
Swan is not just a fintech. Swan is a tech-driven bank that enables companies to become fintechs. The simplicity and scalability of their BaaS technology is key to their success, as evidenced by over 100 companies in 10 European countries trusting it.
And given that a substantial 40% of financial services, especially payments, are anticipated to be offered through embedded finance, Swan is uniquely poised to achieve significant success.
With the investment, Swan will double its headcount and its strategy of addressing the enterprise market. Swan already works with large, multi-national organisations such as Carrefour, who completed a successful cashback project in the past year, and will deepen its enterprise capabilities by launching new product lines tailored for larger organisations: more payment collection methods like direct debit and card payments, as well as additional lending capabilities.
We are incredibly excited for what is to come for Swan 🦢
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