News Summary

French startup Swan has successfully secured an additional $44 million in its Series B funding round, aimed at expanding its embedded banking services across Europe. This latest funding is part of a continued effort to enhance Swan’s position as a leading player in the fintech sector. Swan offers companies the ability to integrate financial products into their services, providing virtual and physical cards that work with Apple Pay and Google Pay, programmatically configurable by clients. The startup also facilitates the creation of payment accounts with individual IBANs, supporting various financial transactions. Swan has attracted a robust client base, including companies like Pennylane and Indy, and handles €1.5 billion in monthly transactions across 150 partners. The funding round was led by Eight Roads Ventures, with participation from existing investors such as Lakestar, Accel, and Bpifrance. Swan plans to utilize the new funds to continue its international expansion, with Italy as the next target market.