Total amount raised
$49 Million
Latest funding date
3/1/2025
Location
Swap has successfully raised funding over three rounds, with the latest being a Series C round led by ICONIQ Capital and DST Global. The company offers a comprehensive e-commerce operating system that helps online brands manage their commerce operations, including compliance, returns, and inventory management.
Keep reading to explore the intricacies of Swap's fundraising journey and the investors backing this innovative platform.
What Is Swap?
Swap Commerce is a private company based in London, England, specializing in e-commerce, finance, and software. The company provides a comprehensive e-commerce operating system that helps online brands manage their commerce operations, including compliance, returns, and inventory management.
Founded with the aim of unifying global commerce operations, Swap has grown to employ between 251-500 people. The company is currently in its Series C funding stage, backed by notable investors such as ICONIQ Capital and DST Global.
How Much Funding Has Swap Raised?
- Series A
- Amount Raised: USD 9,000,000
- Date: April 2024
- Lead Investors: QED Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product development and expand market reach.
- Series B
- Amount Raised: USD 40,000,000
- Date: March 2025
- Lead Investors: ICONIQ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To deepen presence in the U.K. market, accelerate expansion into the U.S. and EU, and enter new regions such as Australia and Canada.
Total Amount Raised: USD 49,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- ICONIQ Growth
- Details: ICONIQ Growth is a leading investment firm known for backing high-growth technology companies. They partner with visionaries to transform industries, supporting companies from early growth stages to IPO and beyond.
- Investment Focus Areas: High-growth technology companies.
- Notable Investments: Snowflake, Uber, Airbnb.
- QED Investors
- Details: QED Investors is a venture capital firm focused on investing in early-stage, disruptive financial services companies. They have a strong track record of supporting innovative startups in the fintech sector.
- Investment Focus Areas: Disruptive financial services.
- Notable Investments: Credit Karma, SoFi, Avant.
- Cherry Ventures
- Details: Cherry Ventures is a Berlin-based venture capital firm that invests in seed-stage companies across Europe. They focus on supporting founders with bold ideas and strong execution capabilities.
- Investment Focus Areas: Seed-stage companies in Europe.
- Notable Investments: FlixBus, Auto1, Infarm.
- Portfolio Ventures
- Details: Portfolio Ventures is a venture capital firm that invests in early-stage technology companies. They aim to support innovative startups with the potential to disrupt their respective industries.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- 9900 Capital
- Details: 9900 Capital is a venture capital firm that invests in innovative startups. They focus on providing financial support to companies with high growth potential.
- Investment Focus Areas: Innovative startups.
- Notable Investments: Specific notable investments are not mentioned in the sources.
What's Next for Swap?
Swap is poised to capitalize on the burgeoning global cross-border market, which is projected to reach $7.9 trillion by 2030. With plans to deepen its presence in the U.K., expand into the U.S. and EU, and enter new regions like Australia and Canada, the company is set to seize significant growth opportunities. Additionally, Swap aims to penetrate underserved verticals such as beauty, home goods, and consumer technology.
Future fundraising rounds seem likely as Swap continues to scale its operations and enhance its AI-driven platform. The company’s focus on integrating various logistics functions into a single cohesive system positions it well for attracting further investment. However, challenges such as managing the complexities of global trade and competing with established e-commerce platforms could pose hurdles along the way.
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