Swan advances internationalization with a new office in Amsterdam

By Gloria Methri

Swan, the European embedded finance specialist has opened its first office in the Netherlands and launched localized Dutch accounts. The launch is part of the company’s European hyperlocalization strategy, following a successful launch in Spain earlier in the year.

The launch will enable Swan’s Dutch customers to issue NL IBANs, and ensure all activities including compliance, legal, and product, are thoroughly localized.

In the past three weeks, three companies have already opened hundreds of Dutch accounts for their customers through Swan’s embedded banking platform. The announcement follows a month after a Series B investment round of €37 million to support the company’s internationalization and its Banking-as-a-Service platform.

Swan offers an easy way for companies to embed banking features into their product. Via simple APIs, European companies can easily integrate banking services like local accounts, cards, and payments, quickly and easily into their own platform.

Swan already processes more than €750 million of transactions per month for over 100 customers across Europe, ranging from fast-growing scale-ups to large enterprises.

“As we continue our growth path, the central location of the Netherlands within Europe will provide access to a larger market, making it a strategic base to further expand across the continent”, said Nicolas Benady, co-founder and CEO of SWAN. “The Netherlands has a fast-growing FinTech ecosystem, with many startups and established companies focusing on financial innovation. This ecosystem is ripe with companies who stand to be turbo-charged by Swan’s embedded banking services.”

Swan has embedded finance partnerships with businesses across 12 European countries, including Carrefour, and technology scale-ups like Pennylane, Lucca, Factorial, Expensya, and Agicap.

Ageras was Swan’s first customer in the Netherlands, integrating Swan’s embedded banking features into its accounting and tax filing services. With over one million customers, Ageras is on a mission to roll out embedded banking across all its markets. They recently released Dutch IBANs in their Dutch accounting software, onboarding hundreds of customers in the first weeks.