French startup swan has raised another 42 million euros (around 44 million US dollars on current exchange rates). The company considers this round as the second part of the series -B round, which was originally announced In September 2024.
Swan helps other companies to offer financial products on a scale. The company can generate both virtual and physical cards that work with Apple Pay and Google Pay. Tickets can be configured by programmates by SWAN’s corporate customers with expenditure limits, authorized dealers and much more.
It can also create payment accounts with an individual IBAN. In this way, accounts support pay-ins, payments and even SEPA directors. These accounts can be used as a source of money for the payment cards.
Several rapidly growing companies have selected Swan as their embedded bank partner. For example Pennylane, a French accounting start, the Was a unicorn Last year, accounts and payment cards now offer its customers and relies on Swan for these functions.
Similarly, Indy, an all-in-one management assistant for freelancers, turned to Swan To add accounts and cards to his offers. Other customers are agicap, factor, Lucca and sesame.
SWAN works with 150 companies in total and processes monthly transactions of € 1.5 billion.
Eight road ventures lead the second tranche again with the existing investors Lakestar, Accel, Creandum, Hexa and BPIFRANCE. BPIFRANCE originally invested in Swans Saatgut round through its digital venture fund.
“We believe that the embedded financial possibility is immense and that banking services in the existing software and workflows are increasingly offered directly. We have known Nicolas and his team since their early days and were consistently impressed by their quick progress, the animal -1 customer base and their successful international expansion, ”said Lucile Cornet, partner of Eight Roads Ventures.
While the company does not reveal its evaluation, Nicolas Benady, co -founder and CEO of Swan, told Techcrunch that it is higher than before. “We are not a unicorn yet, so we don’t mention it,” he said.
While many Fintech startups build products on other FinTech -APIS and products, Swan has built its own core banking system. Therefore, it can offer local Ibans and add country -specific payment products.
For Swan’s customers, it is an interesting opportunity to have the opportunity to handle money without money without treating money. Swan takes over Compliance and KYC obligations (“know your customers”). With the financing round on Thursday, Swan will continue to expand into more countries, with Italy being on the roadmap next.
