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Swan secures €42m to drive embedded banking across Europe

By Gloria Methri

February 03, 2025

  • BaaS
  • Belgium
  • Digital Transformation
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Swan, BaaS, Embedded Finance, FinTech, Embedded Banking, Series B Funding, France, EuropeEmbedded banking provider Swan has raised €42 million in Series B funding to accelerate its expansion across Europe. The fresh capital will support Swan’s mission to make integrating financial services seamless for businesses, reinforcing its position in Europe’s embedded finance sector.

Swan’s platform simplifies the integration of banking services into business products by handling compliance, KYC, and fraud prevention. With its proprietary core banking infrastructure, Swan offers localised financial solutions tailored to small and medium-sized enterprises (SMEs) across Europe.

CEO Nicolas Benady emphasised the growing role of embedded finance in business management software. “In the future, I believe business management software will become a key distributor of banking services. Whether it’s for HR or Accounting, these tools will offer banking features seamlessly integrated into the user’s workflow. This means you will have access to banking services right when you need them, directly in the tool you are using. We call this embedded banking. At Swan, we are working hard to provide both the technology and compliance framework to make this a reality for SMEs across Europe.”

Since its initial Series B announcement in September 2023, Swan has:

  • Expanded into the Netherlands and Italy, offering local IBANs and payment solutions.
  • Achieved a 250% increase in revenue and transaction volumes.
  • Issued 370% more cards, reinforcing its position in the embedded banking space.

With the new funding, Swan plans to:

  • Expand into Belgium and the UK.
  • Enhance tailored solutions for SMEs.
  • Develop custom card programs for expense management and benefits.
  • Grow its team by hiring 80+ professionals across Europe.

Swan’s rapid growth reflects the broader shift toward embedded banking, where financial services are integrated directly into everyday business tools. As digital transformation accelerates, the company aims to lead the evolution of banking by making financial services more accessible and intuitive for businesses across Europe.

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