Embedded finance is disrupting the traditional banking model by enabling non-financial companies to integrate banking services directly into their products and platforms.
In practice, an accounting software can offer account opening, card issuance, or payment processing without requiring users to go through a bank. Banking services become a native function of the tools businesses use daily.
Embedded finance platforms like Swan provide white-label banking infrastructure, allowing any company to add financial features without dealing with banking sector regulations.
Evolving towards a banking infrastructure model
Since its founding in 2019, Swan has established itself as a key technology partner for businesses looking to monetize their financial flows. More than just a solution provider, the company is becoming a structural pillar of Europe’s future banking landscape. This shift marks a turning point for Swan, which is now evolving from a fintech startup to a standardized banking infrastructure capable of operating across the continent.
Proprietary technology for full control
Swan’s success is built on a deep integration model for financial services, combining proprietary technology, regulatory expertise, and European scalability. Unlike many competitors relying on third-party solutions, Swan has developed its own core banking system, allowing it to control its entire infrastructure without depending on external providers.
This autonomy translates into several strategic advantages:
- Full control over the product roadmap, enabling rapid innovation.
- Localized IBANs to facilitate adoption across European markets.
- Comprehensive compliance management (KYC, fraud prevention, regulatory oversight), freeing clients from administrative burdens.
Thanks to this positioning, Swan has attracted companies like Pennylane, Indy, Agicap, Libeo, and Lucca, which integrate its banking services directly into their products to offer a seamless user experience.
A structuring market
The embedded finance sector is currently valued at $185 billion globally, with €72 billion in Europe. However, only 20% of this potential is currently being tapped, leaving significant growth opportunities for B2B banking infrastructure providers.
Competition is intensifying in this landscape. Players like Stripe Treasury, Solaris, and Weavr are each pushing their own models with different strategies: some lean on partnerships with traditional banks, while others, like Swan, focus on full integration and complete control of their services.
Regulatory compliance across multiple European jurisdictions is another key challenge, as regulators increase scrutiny on fintechs operating at scale.
A funding round to drive European expansion
To support its growth, Swan has announced an extension of its Series B round with an additional €42 million investment, led by Eight Roads Ventures. Existing investors Lakestar, Accel, Creandum, Hexa, and Bpifrance Digital Venture also participated.
This funding aims to accelerate expansion in Europe, particularly in Italy, and to develop tailored banking solutions for SMEs. Swan also plans to hire 85 new employees to strengthen its technical and commercial teams.
