{"id":2427,"date":"2025-01-30T07:08:45","date_gmt":"2025-01-30T07:08:45","guid":{"rendered":"https:\/\/fusionmindlabs.com\/blogs\/swan-raises-44m-in-series-b-funding\/"},"modified":"2025-01-30T07:08:45","modified_gmt":"2025-01-30T07:08:45","slug":"swan-raises-44m-in-series-b-funding","status":"publish","type":"post","link":"https:\/\/fusionmindlabs.com\/blogs\/swan-raises-44m-in-series-b-funding\/","title":{"rendered":"Swan raises $44m in Series B funding"},"content":{"rendered":"\n<\/p>\n

Swan Raises \u20ac42 Million in Series B Funding Round<\/strong><\/p>\n

French startup Swan has secured another \u20ac42 million (approximately $44 million at current exchange rates) as part of its Series B funding round. This investment is the second part of the round that was originally announced in September 2023.<\/p>\n

What Swan Does<\/strong><\/p>\n

Swan helps other companies offer financial products at scale. The company can generate both virtual and physical cards that work with Apple Pay and Google Pay. Cards can be configured programmatically by Swan\u2019s corporate clients with spending limits, authorized merchants, and more.<\/p>\n

Payment Accounts and Compliance<\/strong><\/p>\n

Swan can also create payment accounts with an individual IBAN. This way, accounts support pay-ins, pay-outs, and even SEPA direct debits. These accounts can be used as the source of money for the payment cards. Swan handles compliance and KYC obligations (\u201cknow your customer\u201d), making it an attractive option for companies looking to expand their financial offerings.<\/p>\n

Customer Success Stories<\/strong><\/p>\n

Several fast-growing companies have chosen Swan as their embedded banking partner. For instance, Pennylane, a French accounting startup that became a unicorn last year, now offers accounts and payment cards to its customers and relies on Swan for those features. Other customers include Indy, an all-in-one administrative assistant for freelancers, Agicap, Factorial, Lucca, and Sesame.<\/p>\n

Company Overview and Expansion Plans<\/strong><\/p>\n

Swan works with 150 companies and processes \u20ac1.5 billion in monthly transactions. Eight Road Ventures is leading the second tranche with existing investors Lakestar, Accel, Creandum, Hexa, and Bpifrance participating again; Bpifrance originally invested in Swan\u2019s seed round through its Digital Venture fund.<\/p>\n

Quote from Eight Road Ventures Partner<\/strong><\/p>\n

\u201cWe believe the embedded finance opportunity is immense, and that banking services will increasingly be offered directly where users are, within existing software and workflows. We\u2019ve known Nicolas and his team since their early days and have been consistently impressed by their rapid progress, Tier 1 customer base, and successful international expansion,\u201d Eight Roads Ventures partner Lucile Cornet said in a statement.<\/p>\n

Valuation and Future Plans<\/strong><\/p>\n

While the company isn\u2019t disclosing its valuation, Swan\u2019s co-founder and CEO Nicolas Benady told TechCrunch that it\u2019s higher than it used to be. \u201cWe\u2019re not a unicorn yet, so we don\u2019t mention it,\u201d he said. Swan will continue to expand to more countries, with Italy being next on the roadmap.<\/p>\n

Unique Approach to Embedded Banking<\/strong><\/p>\n

As for Swan\u2019s customers, having the option to handle money without handling money directly is an interesting opportunity. Swan handles compliance and KYC obligations (\u201cknow your customer\u201d). With Thursday\u2019s funding round, Swan will continue to expand to more countries, with Italy being next on the roadmap. Swan has built its own core banking system, which allows it to offer local IBANs and add country-specific payment products.<\/p>\n\n
Source Link<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Swan Raises \u20ac42 Million in Series B Funding Round French startup Swan has secured another \u20ac42 million (approximately $44 million at current exchange rates) as part of its Series B…<\/p>\n","protected":false},"author":0,"featured_media":2428,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[185,187,186,188,184],"class_list":["post-2427","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","tag-efounders","tag-embedded-banking","tag-fintech","tag-hexa","tag-swan"],"jetpack_featured_media_url":"https:\/\/fusionmindlabs.com\/blogs\/wp-content\/uploads\/sites\/9\/2025\/01\/230906_swan_fr_par_swan_portrait_1529_co_MAX-300dpi.jpg","_links":{"self":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/posts\/2427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/comments?post=2427"}],"version-history":[{"count":0,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/posts\/2427\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/media\/2428"}],"wp:attachment":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/media?parent=2427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/categories?post=2427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/tags?post=2427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}