Swap Secures Significant Growth Capital to Propel Expansion
Swap has successfully acquired new growth capital aimed at accelerating its expansion efforts and enhancing its product offerings for online brands navigating the intricacies of global operations.
As reported by TechEU, the company has raised $100 million in a Series C funding round, co-led by existing investor Iconiq and DST Global.
This latest funding round follows a $40 million Series B round completed about nine months ago. With this investment, Swap has amassed a total of $149 million since its inception.
Established in 2022, Swap offers an integrated operating system designed to assist e-commerce brands in managing logistics and international trade from a singular platform.
Instead of relying on a multitude of vendors for services such as cross-border shipping, order tracking, returns management, tax processing, and inventory forecasting, brands can now leverage this unified system. This innovative approach seeks to mitigate operational complexity as merchants expand into foreign markets.
According to the company, the new funding will fortify its payment capabilities and increase investment in digital payments infrastructure, while also facilitating entry into new geographic arenas.
The company is looking to bolster its presence across Europe and North America as demand grows from brands involved in cross-border sales.
In addition to enhancing its core logistics and operational tools, Swap has been integrating artificial intelligence within its platform.
This technology is being utilized in functions such as cross-border tax filing and returns processing—key areas aimed at improving efficiency and precision for merchants operating on a large scale.
Swap is also pursuing strategic partnerships as part of its broader growth strategy. Last year, the company entered into a partnership with payments provider Adyen, which supports its goal of offering more comprehensive commerce and payment capabilities to its clientele.
With offices located in the UK, USA, Israel, and the Netherlands, Swap illustrates its commitment to an international focus. Its diverse client roster includes prominent retailers such as Manors Golf, Never Fully Dressed, and Surplus, all of whom utilize the platform to streamline logistics and international sales operations.
Commenting on this fundraising achievement, Swap’s founder and CEO, Sam Atkinson, stated: “We have built an existing fleet of products that enable any brand to scale globally.”
He added, “Building upon this foundation of global commerce solutions, we will continue to help brands reach their full potential, solidifying our promise to be the go-to platform for brands to sell anywhere, anticipate intent, and convert more business.”
The Series C funding round, which follows the company’s $40 million Series B, underscores a significant milestone in Swap’s financial trajectory, elevating total capital raised to $149 million since its inception.
Source link: Fintech.global.
