The French Startup Swan has also raised a 42 million euros (about $ 44 million at the current exchange rate). The company considers the round to be the second part of the Series B -Round, which was first announced in September 2023.
Swan supports other companies to provide large -scale financial products. The company can generate both virtual cards and physical cards operating on Apple Pay and Google Pay. Cards can be configured by a SWAN corporate client with expenditures and certified merchants.
You can also create a payment account with individual IBAN. In this way, the account will be paid, pay, and even the SEPA account. These accounts can be used as the funding source of payment cards.
Several fast -growing companies have selected SWAN as embedded banking partners. For example, Pennylane, a France’s accounting startup that became unicorn last year, is currently offering accounts and payment cards, and these features depend on Swan.
Similarly, Indy, an all -in -one management assistant of a free lancer, turned to Swan and added an account and a card to its provisions. Other customers include AGICAP, factors, Lucca, and sesame.
Overall, SWAN cooperates with 150 companies to handle monthly transactions for 1.5 billion euros.
The eight road ventures are leading the second Transache where existing investor Lakster, Axel, Clean Dam, Hexa, and BPIFRANCE will again participate. BPIFRANCE originally invested in Swan’s Sea Dround through digital venture funds.
“The embedded financial opportunities are immeasurable, and we believe that bank services will be increasingly provided directly at places where existing software and workflow are available. Nicolas and his team are early. Lucile Cornet, Lucile Cornet, who has been aware of rapid progress, rapid progress, Tier 1 customer base, and international successful success. ” 。
Although the company has not disclosed the evaluation, Swan’s co -founder and CEO Nicholas Benadi told TechCrunch that it was higher than before. “We haven’t mentioned it because we are not a unicorn yet,” he said.
Many FinTech startups have built products on other FinTech APIs and products, but SWAN has built a unique core banking system. Therefore, you can provide local Ivan and add nationally -specific payment products.
For SWAN customers, it is interesting to have the option to handle money without directing money. Swan processes compliance and KYC obligations (“I know customers”). With the Thursday financing round, Swan will continue to expand to more countries, and Italy will be on roadmaps next.
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