Swan raises additional EUR 42 million to its Series B funding round

Following this announcement, Swan will leverage the new funding round in order to expand to more countries, with the region of Italy being next on its strategy, as well as accelerate its development process through customer card programs, growing its team, and offering tailored tools for SMBs. Eight Road Ventures is leading the second tranche with existing investors, including companies such as Lakestar, Accel, Creandum, Hexa, and Bpifrance.

Furthermore, the embedded banking startup will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.

More information on Swan’s EUR 42 million additional funding 

Swan was developed in order to optimise the manner in which other companies offer financial products at scale, as it can generate both virtual and physical cards that work with Apple Pay and Google Pay. Its cards can be configured programmatically by the company’s corporate customers with spending limits, authorised merchants, and more. 

The firm will continue to develop payment accounts with an individual IBAN in order to allow accounts to support pay-ins, pay-outs, and even SEPA direct debits. This account service can be leveraged as the source of money for the payment cards as well. Swan will also continue to focus on the manner in which banking services can be leveraged and offered directly where users are, within existing software and workflows. 

Furthermore, its clients will have the possibility to handle money in a more secure and efficient manner, as Swan will handle compliance and KYC (Know Your Customer) requirements in order to make sure the experience of customers and partners is improved and protected.