European fintech and embedded finance company SWAN opens an office in Germany to unlock the continent’s largest market

SWAN / Keywords: Various
European fintech and embedded finance company SWAN opens an office in Germany to unlock the continent’s largest market
07-Sep-2022 / 08:48 CET/CEST

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European fintech and embedded finance company SWAN opens an office in Germany to unlock the continent’s largest market.

• Swan, a Banking-as-a-Service provider, is the easiest way to embed banking functionality. Via Swan’s simple APIs, European companies can integrate banking services (accounts, cards and IBAN) quickly and easily into their own product.

• Swan processes transactions worth over EUR 200 million per month for over 50 client companies in eight European countries.

• Clients in France include Carrefour, the largest French retailer, as well as accounting software Pennylane, cash flow management tool Agicap and major buy-now-pay-later player Alma.

• In Germany, SWAN is already used by RIDE Capital, a German fintech for tax-optimized investment, and financial management tool Airbank.

Berlin [Wednesday, September 7th] – The European fintech SWAN, founded in France, announces a new office in Berlin together with German product and localized compliance activities. Banking-as-a-Service (BaaS) plans to roll out across the entire DACH region from the German fintech capital, unlocking the largest market in Europe.

Swan is the easiest way for companies to build banking functionality into their product. Via Swan’s simple APIs, European companies can integrate banking services (accounts, cards and IBANs) quickly and easily into the customer experience. Fintech already processes more than 200 million euros of transactions per month for 50 corporate clients in eight European countries, and is pushing European expansion further by building teams in several European cities. The Berlin office is particularly important for fintech:

“Germany is the largest economy in Europe and one of our most important growth markets. We are here to help local businesses, who have built products tailored to local needs, quickly add banking services to their offering with just a few clicks. Swan makes it significantly easier.” said Nicolas Benady, co-founder and CEO of SWAN. “Our vision is to radically simplify and automate banking and payment processes for companies.”

“Berlin is Germany’s fintech capital and the ideal environment for launching across German-speaking countries. The feedback we have received from clients across the region, including large unicorns and corporations, has been extremely positive.” adds David Frei, head of DACH. Frei’s previous positions include managing director at a Berlin-based B2B start-up and in management consulting at Roland Berger.

SWAN acts as a financial service provider in the background, handling all risk and regulation for its customers. This makes it far easier and more cost-effective to integrate compared to other offers on the market. SWAN itself is a regulated financial institution: the fintech has an e-money license from the French banking regulator ACPR and is supervised by the European Banking Authority. BNP Paribas, Europe’s largest universal bank, is a partner of SWAN and holds the fintech’s customer deposits.

SWAN’s clients include well-known European players such as the French retail group Carrefour, the accounting software provider Pennylane or the Cashflow management specialist Agicap. In Germany, RIDE Capital, a German fintech for tax-optimized investment, already uses SWAN. “We chose SWAN because SWAN’s solution can be implemented quickly and flexibly, probably unlike anything else on the market. This allows us to fully concentrate on our own business, instead of setting up additional teams for banking services, such as compliance.” explains Christine Kiefer, co-founder of RIDE Capital. In Germany, SWAN also lists financial software specialist Airbank and payment solutions provider Denario as clients.

Lightyear Capital estimates that the embedded finance market will grow from around $22.5 billion in 2020 to approximately $230 billion worldwide by 2025. Just for payment transactions, SWAN’s core business, market researchers expect global revenues of $140 billion by 2025. SWAN is a B2B supplier that quickly gets customers across industries such as fintech, insurtech, real estate, e-commerce and legal technology. SWAN’s range of services for businesses includes financial services that they can build into the products for their end customers: bank accounts with their own IBAN, own card services via Mastercard, and modern payment options such as Google Pay or Apple Pay. Companies that embed banking services with SWAN improve the customer experience and can significantly increase revenue per customer.

Consult:

Swan SAS

Sarah Wachter

[email protected]

+33 6 80 53 50 06

About SWAN

Founded in 2019, SWAN is a Paris-based fintech and innovation leader in embedded finance. SWAN’s Banking-as-a-Service (BaaS) is the easiest way to embed banking functions. Via Swan’s simple APIs, European companies can integrate banking services (accounts, cards and IBAN) quickly and easily into their own product. Fintech processes over 200 million euros of transactions per month, for 50+ companies in eight European countries. SWAN has just under 100 employees and is led by fintech experts and experienced entrepreneurs: Nicolas Benady, Nicolas Saison and Mathieu Breton. The company was founded together with the start-up studio eFounders and has received growth capital from leading venture capital investors such as Creandum and Accel. Clients in France include French retail group Carrefour, accounting software provider Pennylane and cash flow management specialist Agicap. In Germany, companies using SWAN include Ride Capital, the German tax-optimized investment fintech, financial software specialist Airbank and payment solutions provider Denario. Swan is a Mastercard Principal Member and a licensed financial institution, regulated by the ACPR.

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