Paris, France / 15 September 2020

Swan raises 5M€ seed round led by Creandum, the leading European venture capital firm that has backed companies such as Spotify and iZettle. The French national investment bank Bpifrance also joins the round, through its Digital Venture division. Swan will use the funding to continue to build a top-tier product, meet rigorous regulatory requirements, and acquire first clients.

Banking is the new frontier for companies seeking to deepen customer relationships and drive more margin.

With Swan, any company can expand their offering to their customers by building a banking service custom-made to fit their needs. Service providers targeting vertical markets (those who cater to a specific customer base) are particularly well positioned to make banking services an intimate part of their core offering. Swan expects to see specialised banking for dentists, for drivers, for e-commerce, and more.

Nicolas Benady, CEO and Founder of Swan, said:

Traditionally, it can take companies up to 6 months to integrate a BaaS into their own product. Our entire platform was specifically designed to reduce this time. With Swan, our partners can offer financial services to their clients in just 5 minutes.

E-money license enables Swan to deliver banking features across Europe.

Swan has obtained an e-money license from the French banking regulator (ACPR), relieving businesses of the lengthy process of getting regulatory approval.

In addition to providing simplified implementation and covering compliance, Swan handles risk. Authentication, fraud detection, and identity verification (aka KYC) are built directly into the product. As for support, Swan has a dedicated team that end-users can contact directly.

Simon Schmincke, General Partner at Creandum, states:

"For startups and incumbents, capturing larger chunks of the value chain is oftentimes only possible with the integration of banking services into their core product. Swan is in the best position to enable companies of all industries transitioning into this new reality. While capturing this trend perfectly, its' product simplicity and its' rigorous focus on design and UX meet the increasing demand for convenience in a B2B world at the same time. We are thrilled to accompany the team on their journey to become the leading BaaS company."