Total amount raised
€100 Millions
Latest funding date
1/1/2025
Location
Swan has successfully raised €42 million in its latest Series B funding round, led by Eight Roads Ventures with participation from existing investors like Accel and Creandum. The platform offers Banking-as-a-Service (BaaS) via simple APIs, enabling businesses to integrate banking services such as accounts, cards, and payments into their own products.
Keep reading to explore the intricacies of Swan's fundraising journey and the investors backing this innovative platform.
What Is Swan?
Swan, founded in January 2019, is a Paris-based fintech company specializing in embedded finance. The company was co-founded by Mathieu Breton, Nicolas Benady, and Nicolas Saison.
With a team of 101-250 employees, Swan offers Banking-as-a-Service (BaaS) through simple APIs. This enables businesses to integrate banking services like accounts, cards, and payments into their own products.
As a Mastercard principal member and a licensed financial institution regulated by the ACPR, Swan continues to innovate in the European fintech landscape.
How Much Funding Has Swan Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their embedded finance platform.
- Seed Round
- Amount Raised: €5M (approximately $5.5M USD)
- Date: September 2020
- Lead Investors: Creandum
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their API and expand their team.
- Series A
- Amount Raised: €16M (approximately $17.6M USD)
- Date: September 2021
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their operations and enter new markets.
- Series B
- Amount Raised: €37M (approximately $40.7M USD)
- Date: September 2023
- Lead Investors: Lakestar
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their embedded banking services across Europe.
- Series B (Additional)
- Amount Raised: €42M (approximately $46.2M USD)
- Date: January 2025
- Lead Investors: Eight Roads Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support expansion into new markets and grow the team.
Total amount raised: $110.0M USD. Current valuation: Not publicly disclosed.
Key Investors
- Eight Roads Ventures
- Details: Eight Roads Ventures is a global venture capital firm that invests in high-growth technology and healthcare companies. They have a strong presence in Europe, Asia, and the United States.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Alibaba, Appsflyer, Neo4j.
- Lakestar
- Details: Lakestar is a venture capital firm that focuses on early and growth-stage investments in technology companies. They are known for their strategic support and extensive network.
- Investment Focus Areas: Technology, fintech, digital health.
- Notable Investments: Spotify, Revolut, Glovo.
- Accel
- Details: Accel is a global venture capital firm that invests in early-stage and growth-stage technology companies. They have a long history of backing successful startups.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Facebook, Dropbox, Slack.
- Creandum
- Details: Creandum is a European venture capital firm that invests in innovative and fast-growing technology companies. They have a strong focus on early-stage investments.
- Investment Focus Areas: Technology, consumer internet, software.
- Notable Investments: Spotify, Klarna, iZettle.
What's Next for Swan?
With the recent €42 million Series B funding, Swan is poised to capitalize on the burgeoning embedded banking market. The company plans to expand into new markets like Belgium and the UK, enhance solutions for SMBs, and develop custom card programs. This growth is supported by a 250% increase in monthly revenue and transaction volumes, indicating substantial market demand.
Future fundraising opportunities seem likely as Swan continues to scale and innovate. However, challenges such as navigating complex banking regulations and maintaining platform efficiency while expanding could pose hurdles. Ensuring compliance with KYC and fraud prevention measures will also be crucial as they enter new regions.
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