Swap has secured a $100 million Series C funding round co-led by DST Global and ICONIQ, which is increasing its investment in the company.
The new funding comes as Swap continues its expansion from its origins as a returns platform into a broader global commerce infrastructure provider. The company’s evolution includes cross-border capabilities introduced last year and new AI-driven tools that allow agents to transact, recommend products, and process payments across merchants worldwide.
The Series C round will support the company’s continued expansion of its end-to-end commerce operating system, which now spans returns, cross-border operations, tax, demand planning, and payments. The company has also partnered with Adyen to deepen its payments expertise and enable advanced transaction capabilities.
Swap plans to use the funding to expand into new regions, strengthen product development, and improve global logistics intelligence, enabling brands to make more informed, timely decisions based on real-time data. These advancements are intended to help merchants optimize revenue opportunities and respond more effectively to shifting consumer preferences and market dynamics.
Swap intends to build on its momentum from its Series B round six months earlier, in which ICONIQ led a $40 million investment to support the company’s U.S. and European expansion. With the new funding, Swap aims further to penetrate international markets, including Australia and Canada, while also entering new verticals such as beauty, home goods, and consumer technology.
Founded in 2022, Swap provides global commerce infrastructure designed to help brands scale internationally with solutions for demand forecasting, cross-border fulfillment, and tax. The company expects its expanded platform offerings to help brands deliver a seamless commerce experience while supporting its broader mission of redefining how goods are bought, sold, and exchanged across markets.
KEY QUOTES:
“We have built an existing fleet of products that enable any brand to scale globally. Building upon this foundation of global commerce solutions, we will continue to help brands reach their full potential, leveling up on the promise to be the go-to platform for brands to sell anywhere, anticipate intent, and convert more business.”
Sam Atkinson, Founder and CEO of Swap
“As a long-time partner of Swap, we believe in their mission to become the go-to resource for commerce globally. Our new investment doubles down on our belief that in today’s world, brands need sophisticated, end-to-end tools to optimize their operations. Swap is forging that path for brands of all sizes, and we are excited to be a part of it.”
Seth Pierrepont, General Partner at ICONIQ
