Swan’s Banking-as-a-Service (BaaS) platform enables any company to offer its customers financial products and services (accounts, wallet cards, loyalty cards, employee benefits, etc.) without having to be a bank. It has emerged as a serious player in the embedded finance space and was recently tipped as one of the most exciting European fintech start-ups to watch in 2023 by Business Insider. The fintech has already seen momentous growth, processing 5 billion euros of transactions since its inception in 2019, with around 400 million euros currently being processed monthly.

At a press conference in Madrid, Júlia Turbany, VP Sales, who is leading the launch of Swan in Spain, commented: “Swan currently works with almost a hundred companies across ten European countries, but Spain is a benchmark in Europe in terms of technological innovation, so it was only natural we would establish ourselves here with a physical office in Barcelona.” Turbany stated.

Spanish companies like Payflow (the leading financial wellness app in Spain) and OKTicket (a fast and powerful expense management platform) have already jumped on the opportunity to embed finance with Swan. Theodore Ohannessian, Head of Product at Payflow, commented: “To build Payflow's Flexflow card program, we looked for the most flexible European BaaS, for both tech and business model. Swan was the obvious choice for us, and we've had great support from the team throughout integration.”

“Embedded finance plays a key role in the future of tech products. Improved customer experiences, boosted revenues. Embedding finance has become a clear strategic step for all kinds of tech companies, and compared to our competitors, Swan has significantly simplified and sped up the process.” highlighted Turbany.

Companies who embed finance with Swan gain access to the massive embedded finance market, which is expected to be worth $7.2 trillion globally by 2030. 40% of financial services are expected to be delivered in an integrated way by then. (Source: Dealroom)