SWAN
Rapid adoption of embedded banking by Benelux companies since Swan’s Amsterdam launch

Rapid adoption of embedded banking by Benelux companies since Swan’s Amsterdam launch

MONDAY, MAY 13, AMSTERDAM

• Since its local launch only 5 months ago, Swan’s embedded banking platform has rapidly expanded in the Benelux, supporting over 10 local companies across 4 sectors to launch banking products (among 100+ European businesses overall).
• Embedded banking takes the power of banking away from traditional banks, putting it in the hands of tech companies in diverse sectors like Financial management & accounting, HR, Real Estate, B2B lending, and more.
• Companies that embed banking features with Swan are able to unlock the full potential of their product. They build better, all-in-one user experiences for consumers, while tripling revenue per user.

Just five months following its strategic launch in the Netherlands, Swan, a leading European fintech specialized in embedded banking, today announces its first customers in the Benelux. This milestone underscores the rapid market adoption of Swan’s platform within the region’s already well-developed fintech ecosystem.

Ten Benelux companies across four sectors have already developed banking products in partnership with Swan. These partnerships showcase Swan’s commitment to supporting a wide array of software companies across different industries, as well as a strong local appetite for embedded banking.

“In ten years, big banks will no longer be up against just a handful of neobank innovators. Instead, they’ll be up against the 10,000 software companies of all kinds, who have successfully embedded banking. Companies in the Netherlands have understood this. The successful launch of banking features by local companies like Ageras, Fincluded, and Yuki, within just four months of Swan’s local launch is a testament to the robust demand for embedded banking services across all sectors,” says Nicolas Benady, co-founder and CEO of Swan.

Companies that have joined the embedded finance movement, in partnership with Swan, include:

• Tellow by Ageras, a leading software for small businesses across Europe and the US, embedded banking with Swan to give users access to accounting, banking, and tax services, all in one hub — with just one login.
• Fincluded: embraces financial inclusion and strives to remove the barriers that exclude foreign workers from the payment system. Fincluded partners with Swan and employment agencies to provide payment accounts that empower everyone to fully participate in society.
• Syndic Yourself: a Proptech that enables simple and efficient management of co-ownerships in Belgium. A fun and smooth user experience lets co-owners open an account, automize accounting, set up a general assembly, and more.
• Floryn: a fast-growing Dutch fintech in the B2B lending industry, has leveraged Swan’s platform to provide more seamless financial operations for its clients.
• Visma Software: One of the Dutch software leaders with products such as eAccounting, Visma.net, and AccountView, aiming to take a leading role in combining accounting with banking.
• Sprinque: a BNPL provider that is eliminating friction from online and offline transactions, has partnered with Swan to power its pan-European B2B payments solution for merchants and marketplaces.
• Yuki: A leading provider of accounting software for SMBs in the Netherlands and Belgium, made the strategic move to embed banking to offer users a comprehensive, all-in-one solution.

 

“Together with Swan, we are revolutionizing expense management for entrepreneurs and their accountants through embedded banking solutions. This collaboration aligns perfectly with Yuki’s innovative DNA, and we are thrilled to be at the forefront of this transformative journey.” – Aeyiondy Dorant, Product Owner, Yuki Mobile App

A localized approach

As part of its European growth strategy, Swan is committed to hyperlocalization across the continent. This goes beyond launching a local office. For example, in the Netherlands, companies can offer to their own customers: Dutch accounts, with Dutch Terms & Conditions, and IBANs that start with “NL.” Swan, in relationship with the local regulator, De Nederlandsche Bank (DNB), ensures that all accounts and banking operations comply with local laws and regulations.

Swan continues to build additional payment methods and features expected by local consumers. For example, they recently launched a new feature expected by the local market: account verification, which allows you to immediately see if there is a match between an account name and an IBAN. Already a common standard in the Dutch market, this is also a requirement for safer payments included in the upcoming PSD3 regulation.

A strategic step in Swan’s European expansion

Since its €38M Series B fundraising in September 2023, Swan has continuously been boosting its platform with new in-demand features. Companies can now both send and accept payments. In April, Swan will launch international credit transfers in partnership with WISE. Payments will be possible in 20+ currencies, with the lowest FX costs on the market. Product advancements such as these are key for Swan to attract enterprise-level companies, and to help reinforce Swan’s position as the embedded banking partner of choice in Europe. 

About Swan

Swan is the leading European fintech specialized in embedded banking. Companies of all kinds can unlock the full potential of their product by embedding Swan’s banking features such as accounts, cards, and payments.

Founded in 2019, Swan processes over 750 million euros of transactions per month, for 100+ companies, and operates across thirty European countries. The company has received growth capital from leading VC investors such as Lakestar, Accel, Creandum, and Bpifrance. Swan is a Mastercard principal member and a licensed financial institution, regulated by the French banking authority (ACPR – Banque de France).