Swan, the French Banking-as-a-Service and embedded finance and payments firm, has raised 37 million euros ($39.6 million) in a series B round led by European venture capital firm Lakestar. The investment brings Swan’s total funding to date to 58 million euros. Swan plans to use the funds to expand its operations in the Netherlands before entering the Italian market in 2024.

Early Revolut Backer Lakestar Leads $40 million Investment in French Fintech Startup Swan