Swan Secures with € 42 million Series B expansion

The Paris-based fintech strengthens its Series B round to drive product development and growth in the embedded finance market

Paris, January 30, 2025 - Swan, a European embedded finance provider, secures an additional €42 million in an expansion of its Series B funding round. The investment is led by Eight Roads Ventures, while existing investors such as Lakestar, Accel, Creandum, Hexa and BPI France are participating again.

Focus on expansion and product innovation

The fresh capital will be used to accelerate product development, drive expansion across Europe and support the growth of the customer base. This underpins Swan's position as an embedded finance provider in a market estimated to be worth USD 185 billion worldwide - USD 72 billion of which is in Europe, of which only 20% has been tapped so far.

Seamlessly integrating banking services

Since its foundation in Paris in 2019, Swan has enabled companies to integrate financial services directly into their offerings without becoming regulated banks themselves. Customers such as the accounting software Pennylane or the freelancer platform Indy use Swan to seamlessly integrate bank accounts and payment functions into their platforms.

In the future, banking will take place where users already work - directly in their business software. We are creating the technology and the regulatory framework to make embedded banking a reality for small and medium-sized enterprises in Europe.

Nicolas Benady, CEO Swan

The financial industry is currently undergoing a transformation: while the first major banking upgrade meant moving from branches to online and mobile banking, the next step goes even further - banking services are now being integrated directly into existing software solutions. This enables companies to tap into new revenue streams through interchange fees, interest income and subscriptions, while strengthening customer loyalty.

Swan's proprietary core banking platform, localized solutions and regulatory structure set it apart from the competition. Customers don't have to worry about regulatory requirements - Swan takes care of compliance, KYC and risk management.

Expansion and staff growth

Swan plans to use the new funds to further expand in key markets such as Italy and to optimize its SMB-focused banking solutions. Tailored card programs and the recruitment of 85 new employees are also planned to further accelerate international growth.