TechCrunch Startup News European embedded banking startup Swan adds another $44 million to its Series B
Feb 3, 2025
A French startup just secured an impressive €42 million in funding to elevate its embedded banking solutions. The discussion covers how this additional cash will enhance their financial product offerings. Swan is not just growing; it's planning to expand into international markets, particularly Italy. The startup's growth strategy and client partnerships are key highlights, showcasing its innovative approach to help other companies provide financial services at scale.
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Swan's Embedded Banking Solution
- Swan, a French embedded banking startup, raised $44 million in a Series B extension.
- They offer virtual and physical cards, IBAN accounts, and handle KYC/compliance for other companies.
Swan's Client Base
- Penny Lane, a French accounting unicorn, uses Swan for its banking features.
- Other clients include Indy, Ajicap, Factorial, Luca, and Sesame.
Swan's Core Banking System
- Swan built its own core banking system instead of relying on third-party APIs.
- This allows them to offer local IBANs and country-specific payment products.