French fintech Swan raises €37 million in a Series B funding round led by Lakestar to expand its Banking-as-a-Service (BaaS) technology across Europe.
- Swan secures €37 million in a Series B funding round, with Lakestar as the lead investor.
- Existing investors, including Accel, Creandum, Bpifrance, and start-up studio eFounders, also participate in the funding round.
- Founded in 2020 and headquartered in Paris, Swan offers white-label embedded finance solutions, enabling companies to incorporate banking features such as accounts, cards, and IBANs into their user experience and workflows.
- In October 2021, Swan raised €16 million in its Series A funding round, led by Accel.
- Leveraging its e-money license from the Central Bank of France and its presence in Spain and Germany, Swan plans to expand internationally, with upcoming launches in the Netherlands and Italy.
- Swan intends to enhance its enterprise capabilities by introducing a new payment collection solution and tailored lending products for larger organizations.
- Swan’s co-founder and CEO, Nico Benady, emphasizes the simplicity and scalability of their BaaS technology, citing up to 200% ROI for customers in the first three months and rapid project launches.
- Lakestar appointed Georgia Watson to Swan’s board, recognizing Swan’s potential to offer financial products precisely when users need them.