Paris-based fintech company Swan has successfully secured an additional €42 million in its Series B funding round, led by Eight Roads Ventures, to enhance product innovation and expand its presence in Europe.
Swan, a Paris-based fintech company specialising in embedded finance, has successfully secured an additional €42 million in its Series B funding round. This latest investment was led by Eight Roads Ventures, with contributions from existing investors including Lakestar, Accel, Creandum, Hexa, and BPI France.
The financial backing is aimed at facilitating product innovation, expanding Swan’s presence across Europe, and enhancing customer acquisition and retention strategies. The company is poised to tap into anticipated significant market growth in the coming years.
Swan’s platform permits businesses to offer financial services without the need to navigate regulatory complexities themselves. For instance, notable customers such as accounting software provider Pennylane and freelancer platform Indy rely on Swan to incorporate accounts and payment functionalities directly into their services, thus providing seamless banking solutions to end-users.
Founder and CEO Nicolas Benady articulated a vision for the future of business management software, stating, “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’ll have access to banking services right when you need them, directly in the tool you’re using. We call this embedded banking.” Benady emphasised that Swan is diligently working to provide both the technology and compliance framework essential for small and medium-sized enterprises (SMEs) across Europe to realise this vision.
The concept of embedding financial products is becoming increasingly viable, particularly as it enables companies to accrue interchange fees, interest income, and subscription revenues. Additionally, the rise in interest rates has augmented the value of these products.
Lucile Cornet, a Partner at Eight Roads Ventures, highlighted the expansive potential of embedded finance, stating, “We believe the embedded finance opportunity is immense, and that banking services will increasingly be offered directly where users are, within existing software and workflows. We’ve known Nicolas and his team since their early days and have been consistently impressed by their rapid progress, Tier 1 customer base, and successful international expansion.”
Swan’s regulatory model is distinctive, as it alleviates its customers from the burden of establishing direct regulatory relationships. This allows businesses to concentrate on their commercial efforts while Swan manages compliance, Know Your Customer (KYC) processes, and risk management. Currently, Swan operates in 30 European countries, positioning itself as a compelling player in the embedded finance market landscape.
Source: Noah Wire Services
- https://www.startbase.com/news/swan-secures-mit-42-millionen-e-series-b-erweiterung/ – This article supports the claim that Swan secured an additional €42 million in its Series B funding round, led by Eight Roads Ventures, to drive product innovation and expansion across Europe.
- https://www.startbase.com/news/swan-secures-mit-42-millionen-e-series-b-erweiterung/ – It also corroborates that Swan’s platform allows businesses to integrate financial services without navigating regulatory complexities, serving customers like Pennylane and Indy.
- https://www.startbase.com/news/swan-secures-mit-42-millionen-e-series-b-erweiterung/ – The article highlights Swan’s vision for embedded banking, as articulated by CEO Nicolas Benady, and its regulatory model that manages compliance for SMEs.
- https://www.startbase.com/news/swan-secures-mit-42-millionen-e-series-b-erweiterung/ – It mentions Swan’s presence in 30 European countries, positioning it as a significant player in the embedded finance market.
- https://www.noahwire.com – This is the source mentioned in the article, though specific content related to Swan’s funding or operations is not detailed.
- https://www.eightroads.com – Eight Roads Ventures is mentioned as the lead investor in Swan’s Series B funding round, but specific details about this investment are not provided on their website.
- https://www.lakestar.com – Lakestar is an existing investor in Swan, but specific information about their involvement in Swan’s funding rounds is not detailed on their website.
- https://www.accel.com – Accel is another existing investor in Swan, though specific details about their investment in Swan are not provided on their website.
- https://www.creandum.com – Creandum is also an existing investor in Swan, but specific information about their investment in Swan is not detailed on their website.
- https://www.bpi.france – BPI France is mentioned as an existing investor in Swan, but specific details about their investment in Swan are not provided on their website.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
10
Notes:
The narrative is very recent, published on January 30, 2025, indicating it is up-to-date and not recycled from older content.
Quotes check
Score:
8
Notes:
The quotes from Nicolas Benady and Lucile Cornet are included, but no earlier references to these exact quotes were found online. This suggests they may be original or recent statements.
Source reliability
Score:
9
Notes:
The narrative originates from a reputable tech publication, which generally enhances credibility. However, specific details about the publication’s fact-checking process are not provided.
Plausability check
Score:
9
Notes:
The claims about Swan’s funding and expansion plans are plausible given the current fintech landscape and trends in embedded finance. Lack of specific evidence does not necessarily indicate falsehood.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The narrative appears to be fresh, with recent quotes and a plausible scenario. It originates from a reputable publication, which supports its reliability. Overall, the information seems accurate and trustworthy.
