Swap has raised a $100 million Series C round co-led by DST Global and ICONIQ, with ICONIQ increasing its stake after leading the company’s $40 million Series B six months earlier. The New York-based startup positions itself as a “commerce operating system,” evolving from a returns-focused product into a broader platform spanning cross-border commerce, tax, and demand planning.
The company said the new capital will help it expand into additional geographies, deepen its payments capabilities, and invest in AI-driven commerce infrastructure designed to let agents transact, recommend products, and process payments across merchants globally. Swap also said it has partnered with Ayden to build out payments expertise.
Founded in 2022 by Sam Atkinson and Zach Bailet, Swap said it plans to target underserved verticals including beauty, home goods, and consumer technology as it continues to build end-to-end tools for brands managing logistics and international selling.
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, Swap
“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, ICONIQ
