Swan secures €42 million for European expansion

Swan, a Paris-based embedded finance provider, has raised an additional €42 million in its Series B funding round, primarily led by Eight Roads Ventures, with participation from existing investors. This funding will support Swan's expansion into key European markets and enhance its banking solutions for small and medium-sized businesses (SMBs), alongside plans to hire 85 new employees. Founded in 2019, Swan allows companies to offer financial services without needing regulatory approval, processing over €1.5 billion in transactions monthly for clients like Pennylane and Indy. The embedded finance market is projected to reach €177 billion globally, with Swan aiming to capitalize on this growth by embedding banking features into business management tools. CEO Nicolas Benady emphasized the importance of seamless integration of banking services within existing workflows. Investors are optimistic about Swan's rapid progress and expanding customer base as it navigates the burgeoning embedded finance landscape.