French startup Swan It raised 42 million euros (about $ 44 million at current exchange rates). The company is considered this round as the second part of the series of series B, which was originally announced in September 2023.
SWAN helps other companies to provide widely financial products. The company can create virtual and united cards that work with Apple Pay and Google Pay. Cards can be formed softly by SWAN companies with spending boundaries, accredited traders, and more.
It can also create payment accounts with individual IBAN. In this way, accounts support payments, payments, and even direct Sepa debts. These accounts can be used as a source of money for payment cards.
Several fast -growing companies have chosen SWAN as their integrated banking partner. For example, Pennylane, an emerging French accounting company that has become a unicorn last year, is now providing accounts and payment cards for its customers and depends on SWAN for these features.
Likewise, Indy, an administrative assistant for everyone in one, has turned to SWAN, to SWAN to add accounts and cards to its shows. Other customers include Agicap, Factorial, Luca and Sesame.
In general, SWAN works with 150 companies and 1.5 billion euros in monthly transactions.
Eight Road Ventures tops the second tranche with the current investors Lakestar, Access, Crendum, Hexa and BPIFrance again; BPIFrance originally invested on the Swan’s Seed tour through the digital project fund.
“We believe that the opportunity for financing is enormous, and that banking services will be increasingly provided directly as users are among the current programs and the functioning of the work. We have known Nicholas and his team from their first days, and we have been constantly affected by rapid progress, the Customer Base 1, and the successful international expansion,” he said, he said, he said, Lucile Cornet, Roads Ventures partner, in a statement.
Although the company does not reveal its evaluation, the co -founder of Swan Nicholas Benadi told Techcrunch that it was higher than it was before. “We are not unicorn yet, so we do not mention that,” he said.
While many Fintech startups build products at the top of other Fintech applications and products, SWAN has built its basic banking system. For this reason it can provide local IBANS and add the country’s payment products.
As for Swan’s customers, the option to handle money without dealing with money directly is an interesting opportunity. Swan holds compliance and obligations KYC (“Know your customer”). With the financing round on Thursday, SWAN will continue to expand more countries, with Italy on the road map.
