Swan helps other firms offer large -scale financial products. The company can generate each virtual and physical cards that work with Apple Pay and Google Pay. Cards may be programmatically configured by Swan corporate customers with expenditure limits, authorized buyers and more.
It also can create payments with individual iban. In this fashion, bills are supported by pay-instruments, payments and even DEPA direct charges. These accounts may be used as a source of cash for payment cards.
Several fast -growing firms selected Swan as a built -in banking partner. For example, Pennylane, a French accounting startup, which became a unicorn last 12 months, now offers accounts and payment cards to his clients and relies on Swan in the case of those functions.
Similarly, Indy, an administrative assistant for freelancers, turned to Swan to add accounts and cards to his offers. Other customers are Agicap, Factorial, Lukca and Sesame.
In general, Swan cooperates with 150 firms and processes EUR 1.5 billion in monthly transactions.
Eight road ventures run a second tranche with current investors Lakestar, ACCEL, Creandum, Hexa and Bpifrance again; Bpifrance originally invested the SWAN’s round through its digital Venture Fund.
“We believe that the built -in financing capabilities are huge, and banking services will be more and more often offered where there are users, in existing software and work flows. From the early days we knew Nicolas and his team and were impressed by their rapid progress, level of level 1 clients and successful international expansion, “said Eight Roads Ventures in a statement in a statement.
While the company does not disclose a valuation, co -founder and general director of Swan, Nicolas Benada, told Techcrunch that he is higher than it used to be. “We are not a unicorn yet, so we do not mention it,” he said.
While many starts -fintech builds products on other API interfaces and fintech products, Swan built its basic banking system. Therefore, it may well offer local iban and add payment products specific to the country.
As for Swan customers, the option to deal with money without direct money service is an interesting opportunity. Swan supports KYC compatibility and duties (“Meet your client”). In the Thursday round of financing, Swan will proceed to expand to a larger number of nations, and Italy can be next in the road map.