We investigate by electrical transport the field-induced superconducting state (FISC) in the organic conductor λ- (BETS) 2 FeCl 4. Below 4 K, antiferromagnetic-insulator, metallic, and eventually superconducting (FISC) ground states are observed with increasing in-plane magnetic field. The FISC state survives between 18 and 41 T, and can be interpreted in terms of the Jaccarino-Peter effect, where the external magnetic field compensates the exchange field of aligned Fe 3+ ions. We further argue that the Fe 3+ moments are essential to stabilize the resulting singlet, two-dimensional superconducting state. Here we provide experimental evidence indicating that this state, as well as the insulating antiferromagnetic ground state, is extremely sensitive to hydrostatic pressure.