• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Thursday, May 8
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Early Revolut backer Lakestar leads $40 million investment in Swan
Finance

Early Revolut backer Lakestar leads $40 million investment in Swan

September 13, 2023No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Early Revolut backer Lakestar leads $40 million investment in Swan
Share
Facebook Twitter LinkedIn Pinterest Email

Swan co-founder and CEO Nicolas Benady.

Swan

European venture capital giant Lakestar, an early supporter of fintech unicorn Revolut, has emerged as a prominent backer of French fintech startup Swan.

Swan raised the funds in a series B investment led by European venture capital giant Lakestar. The latest fundraise takes Swan’s total money raised to 58 million euros. Accel, another venture capital firm, previously led Swan’s series A round in 2021.

Swan CEO and co-founder Nicolas Benady said that, when he started out, it was “incredibly complex” to integrate banking and other financial services into existing platforms that didn’t have any financial components.

“What we had in mind with our co-founders was that it shouldn’t be that complex,” he told CNBC. “If it’s easy to accept payments — like the Stripes the Adyens, the Mollies of this world enable — it should be as easy to set up banking.”

“If you develop a big idea … at 2 a.m., it should be possible to come onto our website and have something up and running in the morning,” Benady added.

Swan will initially use the money to expand its operations in the Netherlands in the coming months, before later expanding its operations in the Italian market in 2024.

Benady said the Dutch market has unique features that set it apart from other European countries, making it more complex as a country to launch digital banking and payment capabilities in for its customers.

For example, the Netherlands has its own payments system, called iDEAL, which lets consumers pay online through their own bank and is supported by all the country’s major lenders including ABN Amro and ING Group.

See also  BMW Tupac Shakur was Slaughtered to Death in on Sale for $1.75 Million

Georgia Watson, a principal at Lakestar based in the firm’s London office, said the firm had been tracking Swan “for about a year.”

“We really like that they’re giving their clients the ability to create new product lines, new revenue lines, with attention for their end users,” she told CNBC.

She added that Swan’s clients “don’t have to think about the regulatory aspects when they want to add on new products, which can be very time consuming and create additional risk for the company.”

Swan is able to set up embedded financial solutions with businesses in as little as two weeks compared to many months for other competitors, according to Watson, who was previously with Goldman Sachs as a vice president managing the investment bank’s growth and venture deals.

Plans to forge partnerships

Luca Bocchio, partner at Accel, said Swan had proven its model was more scalable than competitors in the embedded finance world, such as Railsr and Solarisbank, which have faced struggles in their mission to plug payments and other financial products directly into companies’ platforms. Railsr earlier this year entered bankruptcy protection via a sale to a consortium of investors led by D Squared Capital.

Swan is able to handle large volumes of payments and run know-your-customer (KYC) checks with “very few people,” Bocchio told CNBC.

“Banking-as-a-service providers usually need to take care of many of their customers, who piggyback on their licenses. They need to take care of anti-money laundering, KYC and compliance costs for their customers.”

“Depending on what they’re serving, it means a high volume of requests if you’ve not created a fully automated platform,” Bocchio said. “It requires you to have lots of manual processes.”

Bocchio said that, where Swan differed to competitors was with its ability to process lots of tractions with more automated compliance processes. Railsr, he said, struggled to allocate the right number of people to figure out the challenge of developing an embedded finance experience while also considering how to scale it with compliance in mind.

Railsr, at the time of its restructuring announcement, said that it had “best-in-class technology” and would “get back to basics and manage the business methodically and constructively.”

Swan will also look to forge partnerships with more large, multinational corporates with an aggressive sales strategy following the fundraise. The company already works with the French retail chain Carrefour, which used its technology to develop a cashback project.

Swan plans to broaden its product offering out to include more payment collection methods such as direct debit and card payments, as well as new lending capabilities. As it rolls out these new products, Swan anticipates it’ll begin to serve new industries like travel, insurance and business-to-business marketplaces.

The proportion of payments that are embedded in platforms is expected to grow to 40% in the next few years, according to a note from Bain Capital Ventures. Embedded finance is expected to become a $384.8 billion market by 2029, according to data from Reportlinker.

backer early Investment Lakestar leads million Revolut Swan
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

‘Silver Lining’: Private Domestic Investment Soared In First Quarter Of 2025

April 30, 2025

Ending China’s De Minimis Exception Brings 3 Benefits for Americans

April 17, 2025

The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

April 17, 2025

Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

April 17, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Understanding its symptoms and treatments 

August 1, 2023

American Eagle Sues San Francisco Mall Owners Over Rampant Crime

September 13, 2023

10 Tips For Preventing Pests In Your Home Garden

March 30, 2023

5 Toner Pads For Better Skin and Makeup Application

July 23, 2023
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

OJ Simpson Says Michigan Sign-Stealing Scandal Is Overblown

November 8, 2023

GOP Donors, Including Thomas Pafferty, Reportedly Abandon DeSantis for Being Too Pro-Life

April 17, 2023

Larry Fink doesn’t see a big recession this year, but expects inflation to stay higher for longer

April 15, 2023
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.