The French startup Swan collected another 42 million euros (about $ 44 million at current exchange rates). The company considers this round as the second part of the Serie B round originally announced in September 2024.
Swan helps other companies to offer large -scale financial products. The company can generate virtual and physical cards that work with Apple Pay and Google Pay. The cards can be configured at the programming level by SWAN company customers with spending limits, authorized traders and more.
It can also create payment accounts with a single IBAN. In this way, the accounts support pay-in, payments and even separate direct debts. These accounts can be used as a source of money for payment cards.
Several rapidly growing companies have chosen Swan as built -in banking partner. For example, Pennylane, a French accounting startup that became a unicorn last year, now offers account and payment cards to its customers and relies on Swan for these characteristics.
Likewise, Indy, an all-in-one administrative assistant for freelancers, turned to Swan to add account and cards to his offers. Other customers include Agicap, Fattoriale, Lucca and Sesame.
Overall, Swan works with 150 companies and processes 1.5 billion euros in monthly transactions.
Eight roads on the road is leading the second tranche with existing investors Lakestar, Carel, Creat, Hexa and Bpifrance that participate again; Bpifrance originally invest in the swan seed round through its venture capital fund.
“We believe that the incorporated financial opportunity is immense and that the banking services will be increasingly offered directly where users are located, inside existing software and work flows. We know Nicolas and his team from their first days and we are Stayed constantly affected by their rapid progress, the basis of level 1 customers and the international successful expansion, “said Lucile Cornet, partner of eight roads Ventures, in a note.
While the company does not reveal its evaluation, the co-founder and CEO of Swan Nicolas Benady told Techcruncha that it is higher than before. “We are not yet a unicorn, so we don’t mention it,” he said.
While many Fintech startups are building products on top of other Fintech and products, SWAN has built its main banking system. That’s why it can offer local IBAN and add specific payment products by country.
As for Swan customers, having the opportunity to manage money without managing money directly is an interesting opportunity. Swan manages conformity and Kyca obligations (“know your client”). With the financing round on Thursday, SWAN will continue to expand in several countries, with Italy the next table.
