Swan, a European banking Fintech, has raised €42 million in Series B extension funding according to a blog post. Investors in the funding round include Accel, Hexa, Creandum, Lake Star and Eight Roads.
Swan said the new money would help it expand its embedded banking service across Europe – making it the standard.
Swan stated:
“This funding isn’t just about growth, it’s a reflection of a larger shift happening in the industry. Embedded banking is becoming the new norm. Businesses that integrate financial services into their products aren’t just innovating, they’re creating a competitive edge. They’re building more engaging user experiences, unlocking new revenue streams, and staying ahead in a rapidly evolving market.”
Swan is part of the Fintech everywhere movement where financial services are there when you need. Ubiquitous but not obtrusive.
Since the initial Series B was announced (way back in 2023), Swan highlighted some of the platform’s improvements, including:
- Launch in the Netherlands and Italy.
- Growth in revenue and transactions. Monthly revenue and transaction volumes have grown by 250%
Swan said they would be working on moving into new markets, with the UK and Belgium first on the list, with more features and functionalities for SMEs, custom card programs, and new hires boosting their current 80-employee team.
€
