European embedded banking startup Swan adds another $44M to its Series B

French startup Swan has raised another €42 million (around $44 million at current exchange rates). The company considers this round as the second part of the Series B that was originally announced in September 2023.

Swan helps other companies offer financial products at scale. The company can generate both virtual and physical cards that work with Apple Pay and Google Pay. Cards can be configured programmatically by Swan’s corporate clients with spending limits, authorized merchants, and more.

It can also create payment accounts with an individual IBAN. This way, accounts support pay-ins, pay-outs, and even SEPA direct debits. These accounts can be used as the source of money for the payment cards.