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European embedded banking startup Swan adds another $44 million to its Series B
French startup Swan has raised another €42 million (approximately $44 million at current exchange rates) in the second part of its originally announced Series B round, which was first disclosed in September 2024. This latest investment will further enable the company’s expansion into new markets and countries.
Swan is a European embedded banking provider that enables other companies to offer financial products at scale. The startup has developed its own core banking system, allowing it to create both virtual and physical cards that are compatible with Apple Pay and Google Pay. These cards can be programmatically configured by Swan’s corporate clients with spending limits, authorized merchants, and more.
The company also offers the creation of payment accounts with a unique IBAN (International Bank Account Number). This feature enables transactions between users and financial institutions in various countries, giving companies the capability to offer seamless cross-border payment experiences.
Swan has received significant traction since its initial announcement of the Series B round. As part of this new investment, the company plans to strengthen its presence in Europe while expanding into other regions globally.
According to Swan’s roadmap, the next major market it will enter is the United States, followed by Asia and Latin America. This expansion is expected to be driven by the startup’s growing roster of international clients and partners.
Swan’s innovative approach has garnered significant interest from investors, with many recognizing the potential for this technology to revolutionize the way financial transactions are conducted online. The company’s impressive growth trajectory has cemented its position as a leading player in the European fintech space.
The startup has already established partnerships with major companies and organizations across various sectors, including fintech, e-commerce, social media platforms, and more. These collaborations have enabled Swan to develop customized financial solutions that cater to specific industry needs.
As the embedded banking market continues to grow, Swan is well-positioned to capitalize on this trend and further expand its reach into new markets.
Source: techcrunch.com
