Emerging European Embedded Finance Leader Swan Opens Office in Amsterdam and Launches Localized Dutch Accounts

Launch of localized accounts will allow Swan’s Dutch customers to issue NL IBANs to their clients.

AMSTERDAM–(BUSINESS WIRE)–Swan, the emerging European leader in embedded finance, today opens its first office in the Netherlands, and launches localized Dutch accounts, as part of its continued European expansion. The launch is part of the company’s European hyperlocalization strategy, following a successful launch in Spain earlier in the year. The launch will enable Swan’s Dutch customers to issue NL IBANs, and ensure all activities including compliance, legal, and product, are thoroughly localized.

In the past three weeks, three companies have already opened hundreds of Dutch accounts for their customers through Swan’s embedded banking platform, demonstrating a strong appetite for its services in the Netherlands. The announcement follows a month after a Series B investment round of €37 million to support the internationalization of the company and its Banking-as-a-Service platform.

Swan is the easiest way for companies to embed banking features into their product. Via simple APIs, European companies can easily integrate banking services like local accounts, cards and payments, quickly and easily into their own platform. Swan already processes more than 750 million euros of transactions per month for over 100 customers across Europe, ranging from fast growing scale-ups to large enterprises.

“As we’re continuing our growth path, the central location of the Netherlands within Europe will provide access to a larger market, making it a strategic base to further expand across the continent”, says Nicolas Benady, co-founder and CEO of SWAN. “The Netherlands has a fast-growing fintech ecosystem, with many startups and established companies focusing on financial innovation. This ecosystem is ripe with companies who stand to be turbo-charged by Swan’s embedded banking services.”

Swan has embedded finance partnerships with businesses across twelve European countries, including Carrefour, and successful technology scale-ups like Pennylane, Lucca, Factorial, Expensya and Agicap.

Ageras was Swan’s first customer in the Netherlands, integrating Swan’s embedded banking features into its accounting and tax filing services. With over one million customers, Ageras is on a mission to roll out embedded banking across all their markets. They recently released Dutch IBANs in their Dutch accounting software, onboarding hundreds of customers in the first weeks.

“Banking is an essential part of our product suite, and by integrating it with accounting and tax filing, we can make life so much easier for small business owners. They can find everything they need for administering their business, all on one platform with one, single login”, says Thomas Vles, Chief Revenue Officer of Ageras. “Swan is a strong partner that enables us to become successful in many of our important markets in Europe, they are frontrunners in functionality, security and collaboration.”

Expansion across industries

Swan is expected to double its workforce in the next two years, with the Amsterdam office serving as an important hub for employees in the region. “We see lots of interesting opportunities in our region that is known for rapid adoption of innovative financial solutions”, says Marnix van Deursen, VP Benelux at Swan. “Besides accounting software, the local team will focus on expansion across more industries in the Netherlands like business expense software, HR SaaS software and property management.”


About Swan

Swan is a European fintech and innovation leader in embedded finance. Swan’s Banking-as-a-Service (BaaS) platform is the easiest way for companies to embed banking features. Via its simple APIs, European companies can integrate banking services (accounts, cards and payments) quickly and easily into their own product.

Founded in 2019, Swan processes around 750 million euros of transactions per month, for 100+ companies across ten European countries. Swan has over 150 employees and is led by fintech experts and experienced entrepreneurs Nicolas Benady, Nicolas Saison and Mathieu Breton. The company was founded with the startup studio, eFounders, and has received growth capital from leading VC investors such as Lakestar, Accel, Creandum, and Bpifrance.


Sarah Wachter


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