French fintech company Swan has just bagged an extra €42 million (roughly $44 million) in funding. This marks the second part of its Series B round, which was first revealed back in September 2024.

Swan specializes in helping businesses roll out financial products with ease. Their platform can generate both virtual and physical payment cards compatible with Apple Pay and Google Pay. Companies can customize these cards, setting spending limits, approved vendors, and more.

The startup also provides payment accounts with unique IBANs, supporting transactions like pay-ins, pay-outs, and SEPA direct debits. These accounts can be linked to payment cards, making financial management a breeze for businesses.

Already trusted by over 150 companies, Swan processes an impressive €1.5 billion in monthly transactions. Big names like Pennylane, a French accounting unicorn, and Indy, a tool for freelancers, rely on Swan to power their financial offerings.

The fresh funding round was led by Eight Road Ventures, with contributions from existing investors like Lakestar, Accel, and Bpifrance. While Swan hasn’t disclosed its valuation, CEO Nicolas Benady confirmed it’s higher than before, though the company is not yet a unicorn.

What sets Swan apart is its in-house core banking system, enabling features like local IBANs and country-specific payment options. This means businesses can handle money indirectly while Swan takes care of compliance and KYC requirements.

With this latest investment, Swan plans to expand further, starting with Italy as its next target. The embedded finance market is booming, and Swan is well-positioned to help businesses integrate banking services directly into their existing workflows.

It’s an exciting time for Swan and its customers, as the startup continues to innovate and grow in the competitive fintech landscape. Keep an eye on this one—its journey is just getting started.