Swan (eF19) raises a whopping 5M€ seed round led by Creandum
Swan (eF19) raises a 5 million euros seed round, obtains its e-money license by the French banking regulator (ACPR), and officially launches its product. A triple whammy for the startup and a true testament to the sheer work that the team has put in over the last 18 months.
Any Company Can Become a Fintech 💸
A Banking as a Service (BaaS) platform, Swan is paving the way to allow any company to become a fintech. The round led by the prestigious VC Creandum with the participation of BpiFrance’s Digital Venture fund and several business angels will allow the startup to deliver on its mission and make banking accessible for all.
Prior to building Swan, we had tried to integrate existing BaaS platforms in three of the startups we launched and directly experienced the pains associated with them. We knew there had to be an easier, faster and simpler way of embedding banking features into a product. And you can probably guess what happened next… The idea for Swan was born.
We quickly partnered with an incredible founding team. Nico Benady, Nicolas Saison (aka Sixteen) and Mathieu Breton joined eFounders in 2019 to launch Swan. For 18 months, they put their heads down, strategized and furiously worked. And it paid off! They’ve managed to make BaaS simple, accessible and easy-to-use.
Leading the New SaaS Frontier 🤩
The next generation of SaaS will be API first and Swan is at the forefront of this movement.
Just a few years ago, if a company wanted to embed banking features into its product, it had to overcome a heap of compliance and regulatory constraints and go through huge technical difficulties. A process that could take months if not years.
With Swan’s simple and thoughtfully designed API, companies can offer these features in minutes. By dumping a simple line of code in their software, they can expand their offering to their customers and provide branded accounts, cards and IBANs. Reinventing their business models and moving into a new dimension.
APIs are no longer just a ‘nice to have’ for SaaS companies. And that’s why we built Swan with at its core a powerful API and a bold ambition. What Stripe is to payment, Swan will be to banking.
What’s Next for Swan 🚀
They’ve accomplished a lot and it’s only the beginning. Swan will use the funds to continue building a top-tier product, meet rigorous requirements, and acquire its first clients. We’re incredibly proud of the remarkable group of people that make up the Swan team. They’ve executed at the highest speed and grown from a few lines of code to a full-blown product. We’ll be cheering them on!