French startup Swan It has raised another € 42 million (around $ 44 million to current exchange rates). The company considers this round as the second part of the B series round that was originally announced In September 2024.
Swan helps other companies to offer financial products. The company can generate virtual and physical cards that work with Apple Pay and Google Pay. The cards can be configured programmatically by corporate customers of Swan with spending limits, authorized merchants and more.
You can also create payment accounts with an individual. In this way, the accounts support payments, payments and even the direct debits of SEPA. These accounts can be used as a source of money for payment cards.
Several fast -growing companies have chosen Swan as their integrated banking partner. For example, Pennylane, a French accounting startup that became a unicorn Last year, it now offers accounts and payment cards to your customers and trust Swan for those characteristics.
Similarly, Indy, an administrative assistant all in one for freelancers, He turned to Swan To add accounts and cards to your offers. Other customers include agicap, factorial, Lucca and Sesame.
In general, Swan works with 150 companies and processes € 1.5 billion in monthly transactions.
Eight Road Ventures leads the second section with existing investors Lakestar, Accel, Creandum, Hexa and Bpifrance participating again; Bpifrance originally invested in the Swan seed round through its digital risk fund.
“We believe that the integrated financial opportunity is immense, and that bank services will be offered more and more directly where users are, within the workflows and existing workflows. We know Nicolas and his team since their early days and has constantly impressed their rapid progress, the level 1 clients base and the successful international expansion, ”said eight road partner, Lucile Cornet, in a statement.
While the company is not revealing its valuation, the co -founder and CEO of Swan, Nicolas Benady, told TechCrunch that it is higher than it used to be. “We are not yet a unicorn, so we don’t mention it,” he said.
While many new Fintech companies are building products on other APIs and Fintech products, Swan has built its own central banking system. That is why you can offer local Ibans and add specific payment products in the country.
As for Swan’s customers, having the option to handle money without handling money is directly an interesting opportunity. Swan handles KYC compliance and obligations (“know your client”). With the financing round on Thursday, Swan will continue to expand to more countries, and Italy is the following in the road map.