Swan, a fintech company based in Paris, has raised €42 million in its Series B funding round, emphasizing the growing significance of embedded banking. Led by Eight Roads Ventures, the round will enable Swan to expand its offerings of integrated banking services, allowing businesses to seamlessly incorporate accounts, cards, and payments into their platforms. Currently handling over €1.5 billion in monthly transactions for 150 clients, Swan aims to pioneer the merger of business management software and financial services, driving new revenue streams while enhancing customer retention for SMEs across Europe.
"We believe the embedded finance opportunity is immense, and that banking services will increasingly be offered directly where users are, within existing software and workflows."
"In the future, I believe business management software will become a key distributor of banking services. These tools will offer banking features seamlessly integrated into the user's workflow."
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