“Can a French AP-automation SaaS capture the full spend management stack for SMEs and accountants by embedding banking, cards, and AI without requiring customers to change their bank or accounting software?”
Founded in 2018 as a French SaaS for invoice and expense management targeting SMEs and accounting firms, Libeo initially relied on third-party banking connections to initiate supplier payments. As its user base grew to ~20,000 daily users, Libeo embedded full banking infrastructure via Swan (BaaS), becoming an ORIAS-registered payment intermediary (agent of Swan). The platform has since evolved from a simple AP automation tool into an integrated spend management suite — covering supplier payments, AI-based accounting, IBAN fraud verification, physical/virtual payment cards, procurement, and multi-entity management — competing with tools like Pleo and Spendesk for the French SME and accounting-firm segment.
Libeo discloses Swan as its banking provider, according to the Embedded Finance Index 2026.
Libeo does not disclose a bank charter of its own; its banking services are provided through Swan.
Libeo moves money over SEPA.
Libeo's cards are issued through Swan.
Libeo's lending and capital products are provided by Defacto.
Libeo integrates with Inqom, Sage, Sage 100, Cegid Loop, MyUnisoft, Odoo, ACD and Génération Experts.
The Embedded Finance Index 2026 maps 6 layers in Libeo's stack: Money movement (SEPA); Banking / BaaS (Swan); Card issuing (Swan); Lending (Defacto and Working capital / short-term financing (via Defacto)); Unified APIs (Chift); Accounting (Inqom, Sage, Sage 100, Cegid Loop and 4 others).
Libeo was founded by Pierre-Antoine Glandier and Jérémy Attuil and is founded in 2018, headquartered in Vincennes (Île-de-France), France.
Libeo has raised $30.9M in total.
Get a read on where your own stack stands against Libeo and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.