Fintech Company Swan Launches in Milan

Swan, a European fintech company operating in the integrated finance sector, lands in Italy and chooses Milan as its tricolor headquarters. In Europe, over 100 European companies have already perfectly integrated some banking services, such as accounts, cards and payment systems, into their products using Swan’s services. The Banking-as-a-Service approach allows companies to improve customer experience and create new revenue streams.

The launch of Swan in Milan is part of a broader European expansion strategy, fueled by €37 million of second stage investments in 2023 and the huge success of the launches in Barcelona and Amsterdam in the same year.

Alessandro Giovanelli, Head of Italy at Swan, describes how integrated finance is key for many companies to reach their full potential, especially in a context where tech entrepreneurship is in full expansion phase.

“The tech landscape in Italy is experiencing a significant phase of expansion and transformation. In 2023, the combined enterprise value of Italian startups rose to 54 billion dollars – he said– Although still in its infancy, especially when compared to other large European economies, our ecosystem is on a growth trajectory comparable to that of France and Spain; integrated finance will be one of the main drivers of this expansion, representing the best tool to unlock the potential of Italian companies in many sectors, such as financial management, human resources, real estate and travel, to name just a few.”

Swan Services

With Swan’s arrival in Milan, Italian companies will be able to offer their customers local current accounts under their own brand and other banking services, such as Italian IBANs, with localized legal and compliance assistance. This type of offering is a key aspect of Swan’s hyper-localization strategy, which aims to customize financial services based on the specific needs of each market in which it operates: France, Germany, Italy, the Netherlands, Spain and more.

“We are here to help Italian companies easily add banking features to their offerings and quickly strengthen their new solutions on the market,” emphasizes Nicolas Benady, CEO of Swan. “By offering accounts, payments and cards with their own logo, companies can offer better products, thereby increasing their expansion; many companies working with us report having tripled their turnover per customer after introducing our banking services. Swan enables both startups in the development stage and structured companies to enter the integrated finance market and compete on a global scale.”

Swan has already processed over €15 billion in transactions for a range of clients across 16 different business sectors. The companies that have chosen Swan are countless; from large enterprises like Carrefour, to rising tech unicorns like Pennylane. Among the Italian ones are Agicap, a leader in cash flow management, and Tundr, a social fintech.

Tundr was the first Italian company to rely on Swan. Their corporate benefits platform offers vouchers for eco-mobility, shopping and leisure activities, combined with a sustainability-focused app that allows employees and employers to monitor benefits and manage expenses using personalized filters.

Revolut launches bonds

Revolut is also new. The financial app has added bonds to its investment offering in Italy and will expand the list of corporate and government bonds in the coming months. The minimum amount to start investing in bonds is 100 euros or dollars, with a flat fee of 0.25% per transaction. Other costs may apply.

The announcement comes after a recent representative survey conducted by Dynata on behalf of Revolut in Italy showed that 29% of Italians indicate a low tolerance for risk, leading them to seek safer investment options. Italians show a degree of conservatism at the same level as the European average. Furthermore, 30% of Italians are willing to diversify their portfolio while remaining open to moderate risk.

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(Featured image by fototommy via Pixabay)

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First published in CORCOM. A third-party contributor translated and adapted the article from tthe original. In case of discrepancy, the original will prevail.

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