# Swan

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/swan-2

- Industry: Financial Services
- Headquarters: Montreuil, France
- Website: www.swan.io
- Total disclosed funding: $107M
- Latest round: Series B (Jan 29, 2025)
- Investors on record: 8

## About

Swan SAS, based in France, provides embedded banking solutions that allow businesses to integrate banking features directly into their products, enhancing customer engagement and operational efficiency.Founded in 2018 in Montreuil, France, Swan SAS specializes in embedded banking solutions for businesses. The company has executed 7 deals, with the most recent funding round being a Series B on January 29, 2025, where they raised EUR 42 million, led by Eight Roads Ventures and participated by Accel, Bpifrance, Creandum, Hexa, and Lakestar. The founder, Nicolas Saison, has a background in financial technology and has been instrumental in driving the company's vision.Swan primarily offers embedded banking solutions that enable businesses to integrate banking features directly into their products. Their core offerings include customizable accounts, card programs, and payment solutions designed to meet the financial needs of end users, such as businesses and their customers. This technology facilitates seamless transactions, allowing users to manage their banking activities alongside their existing business tools, addressing the issue of fragmented banking experiences. Swan’s services cater to various industries, including accounting, property management, HR tech, health insurance, and travel, across multiple European markets such as France, Germany, Spain, and the Netherlands. By leveraging Swan's technology, businesses can transform into financial hubs for their users, enhancing operational efficiency and user engagement.In 2023, Swan reported a revenue of EUR 11,770,251.70, with an EBITDA of EUR -11,264,155.30. The company's revenue model is structured around partnerships with businesses that incorporate their embedded banking solutions. These partnerships typically involve Swan's white-labeled services, enhancing the product offerings for clients while enabling seamless banking capabilities. Swan generates revenue through fees associated with account maintenance, card issuance, and transaction processing, tailored to the specific needs of each partnership.Following the Series B funding round, which raised EUR 42 million in January 2025, Swan SAS plans to use the funds to expand its digital bank platform across Europe. The company is actively designing new products tailored for various business sectors and intends to launch these innovations in the coming year. Swan is also focusing on expanding into additional European markets, consistently assessing opportunities to enhance its service offering and reach.

## Funding rounds

- Series B, Jan 29, 2025, $44M — Accel, Eight Roads Ventures, Creandum, Bpifrance, Lakestar, Hexa
- Series B, Sep 13, 2023, $39M — Accel, Creandum, Bpifrance, Lakestar
- Series A, Sep 28, 2021, $19M — Accel, Creandum, Bpifrance
- Seed, Jun 16, 2020, $4.2M — Creandum, Bpifrance, Founders Future
- Seed, Nov 26, 2019, $0.9M — Kima Ventures, Founders Future

## Investors

- Kima Ventures (https://capitalatlas.ai/funds/kima-ventures) — Seed
- Founders Future (https://capitalatlas.ai/funds/founders-future) — Seed
- Creandum (https://capitalatlas.ai/funds/creandum) — Seed, Series A, Series B
- Bpifrance — Seed, Series A, Series B
- Accel (https://capitalatlas.ai/funds/accel) — Series A, Series B
- Lakestar (https://capitalatlas.ai/funds/lakestar) — Series B
- Eight Roads Ventures (https://capitalatlas.ai/funds/eight-roads-ventures) — Series B
- Hexa — Series B