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Banking-as-a-service startup Swan snags €5 million

Banking-as-a-service startup Swan snags €5 million

French banking-as-a-service startup Swan has raised €5 million in a seed round led by Creandum with participation from Bpifrance's Digital Venture Fund.

Much like Solarisbank, Swan provides lines of code that will let any company create accounts, cards and Ibans within minutes.

Emerging from French startup studio eFounders, Swan has obtained an e-money licence from French regulatory authorities.

The company offers a white-label banking interface and a suite of APIs augmented with built-in authentication, fraud detection, and customer identity verification.

States the firm: "Our job is taking complex codes and regulations like DSP2, PCIDSS, 2FA, SCA, rendering them in an easy-to-use interface and allowing you to invent new business models. We handle the risk while you take your product to the next level."

Swan is led by CEO Nicolas Benady, who previously co-founded two payments startups, Limonetik and Antelop.

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